World Economic Forum engages non-profit organizations to promote climate action

Dr. Rania Al-Mashat, the Egyptian Minister of International Cooperation, recently concluded her participation in the World Economic Forum's Growth Summit 2023 in Switzerland.

During the summit, she met with Klaus Schwab, the founder and executive chairman of the World Economic Forum, and other leaders to discuss ways of enhancing cooperation and joint initiatives through partnerships between governments, the private sector, and non-profit organizations to promote climate action and development efforts.

Dr. Al-Mashat also met with Kevin Frey, CEO of the United Nations' Generation Unlimited initiative.

They discussed their common efforts to foster climate financing and promote the GAEA initiative, which aims to create constructive partnerships and engage non-profit organizations to help drive climate action.

Dr. Al-Mashat noted the strategic role of the World Economic Forum in engaging stakeholders from around the world, policymakers, and non-profit organizations to support the GAEA initiative.

She also highlighted the importance of innovative financing tools and increased investments by non-profit organizations in mitigating climate risks.

The minister expressed her gratitude for the partnership with the World Economic Forum and their efforts in discussing financing models that could be applied in the Middle East, North Africa, and other developing countries.

The Ministry of International Cooperation welcomes such collaboration with the forum and aims to explore more opportunities to finance climate projects.

In other news, the World Bank recently approved a $500 million loan to Egypt to support the country's efforts in implementing sustainable and climate-resilient infrastructure projects, which will help create new jobs and foster economic growth.

This loan is part of the World Bank's Climate Change Action Plan, which aims to help countries meet their climate goals and support their transition to a low-carbon economy.