CAIRO – 7 June 2026:  Egypt is working to establish the Egyptian Coral Reef Fund as a mechanism to attract long-term investments in conservation, sustainable tourism, and community-based development projects, reflecting its view that sustainable financing is essential for long-term environmental protection, announced Manal Awad, Minister of Local Development and Environment, on Sunday.

Awad’s announcement came during the official launch of the Egyptian Red Sea Initiative, as part of World Environment Day 2026 celebrations. The event was attended by Dr. Walid Abdel-Azim El-Barqy, Governor of the Red Sea; Chitose Noguchi, Resident Representative of the United Nations Development Programme (UNDP) in Egypt; Yumna El-Bahar, Deputy Minister of Tourism and Antiquities; Major General Khaled Abbas, Head of the Nature Protection Sector; Dr. Mahmoud Hanafy, representing HEPCA; as well as representatives from government bodies, development partners, the private sector, civil society, local communities, diving associations, hotels, and universities.

The Minister added that the initiative serves as a model for effective partnerships with development partners, translating national priorities into practical action in cooperation with UNDP Egypt and with the support of the World Coral Reef Fund. She stressed that national leadership remains central to the initiative, alongside continuous coordination among stakeholders and the active participation of local communities in conservation and sustainable tourism efforts.

Minister Awad also said the initiative will include improving protected areas management, strengthening coral reef monitoring, designing long-term financing mechanisms, promoting community-based ecotourism, supporting reef-friendly economic activities, developing the marine buoy system, and addressing waste and other pressures affecting marine ecosystems.

She reiterated the importance of partnerships that provide expertise and support, while emphasizing that national leadership and shared responsibility are key to achieving the initiative’s goals.

Awad described the Egyptian Red Sea Initiative as a national effort aligned with prioritizing biodiversity conservation, local development, climate change adaptation, sustainable tourism, and green investment. She also said it reflects Egypt’s commitment to protecting the Red Sea, one of the country’s most valuable natural assets.

Awad said the Red Sea is both an environmental and economic asset, noting that its coral reefs are a unique biological treasure that supports tourism, employment, coastal livelihoods, and private sector activity. Protecting these reefs, she added, is therefore essential to safeguarding communities and strengthening their resilience.

She emphasized that the initiative depicts the close link between conservation and development, describing them as “two sides of the same coin.” It brings together governorates, local administrations, protected area teams, civil society, the private sector, and local communities to translate national priorities into action on the ground.

For his part, Governor Walid Abdel-Azim El-Barqy highlighted the Red Sea Governorate’s strategic importance as a global tourism destination, stressing the need to balance economic and investment expansion with environmental protection and sustainable resource management.

He said the initiative marks a significant step toward implementing blue economy tools and developing innovative financing mechanisms to ensure the long-term conservation of coral reefs along the Red Sea coast. He added that protecting natural resources is essential not only environmentally but also economically, given their role in sustaining local livelihoods.

UNDP Resident Representative Chitose Noguchi also underscored the importance of partnerships in protecting Egypt’s marine ecosystems, noting that the initiative offers an opportunity to link coral reef conservation with sustainable development and long-term economic resilience for coastal communities.