Egypt’s President Abdel Fattah Al-Sisi met on Monday with Prime Minister Mostafa Madbouly and Minister of International Cooperation Rania Al-Mashat.
The meeting reviewed the efforts of the Ministry of International Cooperation in mobilising concessional development funds related to climate change.
The president directed to provide support for national programmes that promote climate action, as well as to cooperate with international partners to present successful national models to build on regionally and internationally, in line with Egypt’s goals towards the issue of climate change.
During the meeting, Al-Mashat reviewed the path of cooperation with international development partners within the framework of the NWFE Program (Nexus of Water, Food, and Energy).
NWFE is a national programme and a regional approach to linking international climate and development issues, with mobilising facilitated development financing for a package of priority green development projects in the food, water and energy sectors within the framework of Egypt’s comprehensive national climate strategy 2050.
The platform aims to achieve sustainable economic growth, low-emissions, enhance scientific research and transfer technology in the field of climate change, as part of what the Ministry of International Cooperation is doing to enhance opportunities for benefiting from development funds in preparation for the climate summit in Sharm El-Sheikh in November.
She also reviewed the final preparations for the convening of the “Egypt Forum for International Cooperation and Development Finance”, which is scheduled to be held in the new administrative capital in September.
It will include several axes, the most important of which are mobilising resources and facilitating access to finance, in addition to financing the climate agenda for mitigation and adaptation, as well as national efforts and measures taken in this regard.
The forum will also include holding a round table on the “NWFE” program with the aim of promoting investment projects in Egypt in preparation for their presentation at COP27, with the participation of African ministers of finance, economy and environment.
Al-Mashat further presented what her ministry had done in preparing the “Sharm El-Sheikh Fair Finance Guide”, which aims mainly to achieve integration between policy-making and actual measures required to be taken by all parties involved in climate issues, especially governments, international financial institutions and investment funds.