The closing workshop on the “Enhancing Risk Assessments (ERA) for Improved Country Risk Financing Strategies” project was held in Cairo, Egypt, bringing together 40 participants from diverse sectors. The project provided the Egyptian Government partners with a new generation of risk assessments for developing their climate change adaptation, which can guide their climate and disaster risk financing strategies. The project offered a comprehensive understanding of climate risks by integrating economic, macroeconomic, and non-economic impacts. User-friendly software programs like the RISK WISE and the coupling of CRED and CLIMADA models were employed, expanding the scope of risk analytics projects by linking adaptation strategies to decision-making processes and exploring innovative ways to present data, fostering innovation throughout the project.
The closing workshop aimed to present the project’s outcomes, including risk assessments, projected impacts, and adaptation options for Egypt´s climate hazards, while facilitating discussions on using these findings to guide climate risk management strategies. The workshop engaged stakeholders from various organizations, including J-PAL Middle East and North Africa, government agencies like the Egyptian Financial Regulatory Authority and the Ministry of Agriculture and Finance, private-sector entities such as DCarbon Egypt, and academic institutions. The diverse group of stakeholders fostered productive discussions on addressing increasing climate risks in Egypt and provided an opportunity for collaboration by engaging stakeholders with the project’s findings. Key topics during the workshop included adaptation strategies for hazards like riverine flooding and heat waves and opportunities and challenges of implementing the adaptation measures. Participants contributed valuable local expertise, enabling a deeper understanding of how project findings could inform national adaptation plans. The workshop underscored the importance of stakeholder collaboration in refining climate adaptation strategies. Further, the participants emphasized the need for capacity building to use tools like CLIMADA effectively and expressed interest in conducting feasibility studies for implementing adaptation measures.
As the project concludes, efforts were focused on disseminating results, translating findings into local language, and supporting capacity developments. While the project is completed, opportunities for continued collaboration remain with the Egyptian government to align outcomes with ongoing national initiatives, such as risk mapping and climate model downscaling. There is significant interest in further integrating project results into financial and adaptation planning, ensuring the scalability and sustainability of adaptation strategies. By fostering continued collaboration and capacity-building, the project sets the stage for enhanced climate resilience in Egypt and beyond.
Further information here
