At COP27, USAID launched a major new initiative aiming to conserve Egypt’s Red Sea coastal ecosystem while promoting high-value, low-impact ecotourism. Through an initial investment of $15 million, USAID’s Red Sea Initiative plans to:
-Protect the Red Sea’s coral reef and surrounding coastal ecosystem;
-Empower local communities to lead on climate action;
-Establish a blended finance mechanism to support businesses to build resilience against climate change, reduce emissions, and create jobs; and
-Partner with private businesses and other donors to leverage up to $50 million in total funding.
USAID will work with the Government of Egypt, the Global Fund for Coral Reefs, local communities, conservation organizations, and private businesses to mobilize climate finance and climate action.
Credit: US Embassy Cairo/Maged Abdel Halim and USAID/Egypt
| Date Taken: | 11.15.2022 |
| Date Posted: | 12.27.2022 17:23 |
| Photo ID: | 7535426 |
| VIRIN: | 221115-D-d0499-334 |
| Resolution: | 900x600 |
| Size: | 94.5 KB |
| Location: | SHARM EL SHEIKH, EG |
| Web Views: | 10 |
| Downloads: | 2 |
United States Agency for International Development (USAID)
Arab Republic of Egypt (Egypt)
