Egypt’s Minister of Environment, Yasmine Fouad, and her Colombian counterpart, Susana Muhamad, convened via video conference on Saturday to explore funding strategies for the United Nations Convention on Biological Diversity (CBD).
The meeting focused on mechanisms to finance biodiversity initiatives, aiming to support the goals outlined in the new global framework for biodiversity.
Fouad praised Colombia’s leadership in hosting and steering the 16th Conference of the Parties (COP16) and acknowledged Muhamad’s efforts in advancing discussions on biodiversity financing. She emphasized Egypt’s alignment with the African group’s stance, advocating for the establishment of a dedicated financial mechanism to address biodiversity challenges.
Highlighting the Global Environment Facility (GEF) as a capable manager of public funds from developed nations, Fouad stressed the need for a more inclusive financing framework to mobilize resources from diverse sources.
Meanwhile, Minister Muhamad shared insights from consultations with various countries, aimed at bridging differences on biodiversity financing and facilitating a unified political decision. She commended Egypt’s comprehensive approach to the issue.
The dialogue marks a significant step toward fostering international collaboration to combat biodiversity loss.