Egypt, French Development Agency discuss joint cooperation in preparation for COP27

Daily News Egypt
3 Min Read

Minister of International Cooperation Rania Al-Mashat held a video meeting with Rémy Rioux, CEO of the French Development Agency, within the framework of the third co-financing summit, organized by European Investment Bank in cooperation with African Development Bank, in Abidjan, the capital of Côte d’Ivoire, on the green transformation, equitable and sustainable recovery.

During the meeting, the officials discussed the ongoing development cooperation programmes with the French side, which reflect the strength of Egyptian-French relations at all levels.

They also discussed joint cooperation programmes within the framework of preparations for the COP27 in Egypt next month, and mechanisms for implementing joint strategy until 2025, which comes within the framework of the country’s development priorities.

Al-Mashat discussed the participation of the French Development Agency in financing projects included in the national platform for green projects, the NWFE programme, which comes under the umbrella of the National Strategy for Climate Change 2050, launched by Egypt and included many priority projects. These projects are implemented to achieve the strategy in the areas of mitigation, adaptation and climate resilience, pointing out that 9 priority projects were selected based on the axis of the link between water, food and energy, and their paramount importance to achieving food and water security, and expanding renewable energy efforts.

Al-Mashat noted that the past period witnessed intensive discussions with many multilateral and bilateral development partners, climate finance alliances and non-profit institutions regarding participation in financing the NWFE programme. The platform witnessed wide interest from the partners, especially as it is an international and regional platform and approach.  Climate finance is catalysed and can be replicated in emerging countries, as part of efforts to move from climate pledges to implementation.

Further, the Minister of International Cooperation discussed preparations to launch the Sharm El-Sheikh guide for fair finance during the Climate Summit, which stimulates joint efforts between development partners to set a framework for innovative financing in a way that promotes a just transition and achieves a green transformation.

Rioux affirmed the agency’s continued support for development cooperation efforts with Egypt, pointing to the importance of including the final statement of the third co-financing summit, among the recommendations of the Sharm El-Sheikh guide for equitable financing, in light of cooperation and preparation for the COP27 climate conference.

The total portfolio of economic cooperation between Egypt and France since 1974 to date has reached €7.5bn, through more than 42 cooperation protocols in various sectors, including transport, electricity, civil aviation, housing and sanitation, health, agriculture, and irrigation.  In addition to, small and medium-sized enterprises, environment, archeology, basic and technical education.

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