Egypt’s President Abdel Fattah Al-Sisi said on Monday that the government implemented infrastructure projects at a cost of $400bn, of which $40bn was directed to the “Decent Life” initiative.
During the Egypt Petroleum Show (EGYPS 2022), Al-Sisi added that in order to turn Egypt into a regional electricity hub, the country’s power transmission, control, and production networks have to be capable of accommodating huge capacities.
On a different note, the president pointed out that global production declined when investment fell short during the Coronavirus pandemic, adding that the upcoming climate change conference – i.e. COP 27 – should present objective, balanced, and fair solutions.
Africans should not bear the burden twice of this situation, Al-Sisi stressed, noting that Africa has always been lagging behind the global human progress for historical reasons.
“It is unreasonable for African countries to pay the price for colonialism which consumed their resources for very long years and made the continent the least developed in the world,” Al-Sisi said.
He added that Africa extremely suffers from poverty and underdevelopment, pointing out that half of the continent’s population has no access to energy.
Al-Sisi wondered if Africa would be able to abide by renewable energy commitments during the next 30 years amid instability and terrorism that plague the continent due to its limited capabilities. “Africa needs support, not just a long transitional period.”