CAIRO, Jan 24 (MENA) - Egypt plans to make the best use of its presidency of this year's climate change summit (COP27) to promote relevant public-private partnerships and transition to a green economy, Prime Minister Mostafa Madbouli said Monday.

Madbouli made the remarks in a pre-recorded speech to a forum organized by the US Chamber of Commerce in cooperation with the American Chamber of Commerce in Egypt, under the theme: "Building Momentum to UN COP27; Strengthening public-private sector collaboration on the climate challenge."

Highlighting the huge potential for Egyptian-US climate cooperation, the premier gave an outline of the recent economic and legislative reforms in Egypt to create an enabling environment for private business owners in various sectors.

Egypt has also issued the first sovereign green bonds in the Middle East and Africa at a total value of $750 million, to provide innovative finance solutions for green projects in the areas of waste management, clean transportation, and renewable energy, among others, Madbouli noted.

All these measures are just few examples of the efforts exerted by the government over the past few years, the prime minister said, adding that Egypt looks forward to further cooperation with the US private sector to translate the country's ambitious green policies into physical projects and programs that contribute to sustainable development while combating climate change.

With Egypt serving as the official host of the UN COP27 Climate Summit in November and given its role as a leader in the largest energy producing region of the world, the forum will focus on ways in which governments and the private sector can work together leveraging technology and innovation to address the climate challenge across the economy.

The two-day event endeavors to build momentum for the global discussion leading to the Egypt-hosted Summit in 2022 with a focus on the contributions of and role played by the business community in climate adaptation and mitigation in a leading emerging market economy and strategic partner. (MENA)

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