Resolution No.416 of 2019 regulating the Environment Fund.

This Resolution aims at establishing an Environmental Fund with the following main objectives (i) contribute to achieving the national strategy for the environment and financial sustainability of the national centers of the environment and meteorological sectors; and (ii) enabling them to carry out their tasks and responsibilities according to the relevant regulations and organization of each center. Among the tasks of the fund are (i) stimulate the environmental protection plans, activities and initiatives, and contribute to their financing; (ii) stimulate the environment and meteorology sectors, encouraging related studies and researches; (iii) encourage investment in fields related to the environment and meteorology sectors; and (iv) seek the assistance of experts, specialists, consultants, and others with the required qualifications required in the relevant fields of the Fund.
The determination of the fund’s capital and the schedule for its payment shall be in agreement between the Minister of Finance and the Minister of Environment, Water and Agriculture. The fund shall have a Board of Directors headed by the Minister of Environment, Water and Agriculture that is the authority responsible for setting the general policy of the Fund, and other related regulations, and it may take all necessary decisions to achieve the Fund's goals. The Fund shall have an executive head responsible for managing its affairs.