Egypt’s Minister of Planning, Economic Development, and International Cooperation Rania Al-Mashat described the “NWFE” program as the nexus between water, food, and energy projects.
Egypt launched the program in July 2022 to advance green transformation efforts and move from climate commitments to actual implementation, the minister added during her presentation of the national experience as an innovative climate platform model aimed at mobilizing climate investments and enhancing national strategies.
The session was organized by the European Bank for Reconstruction and Development (EBRD), in the presence of EBRD’s Regional Director for Sub-Saharan Africa Heike Harmgart, EBRD’s Regional Director for the Southern and Eastern Mediterranean Mark Deven, and representatives from Kazakhstan, Morocco, Jordan, Nigeria, Tunisia, and several other countries, as part of the bank’s annual meetings held in the United Kingdom from May 13 to 15.
The minister reviewed the efforts in drafting and implementing the national platform for “NWFE”, including its institutional and organizational structure, and mechanisms for attracting the private sector to finance mitigation and adaptation projects for climate change.
She emphasized that the program is a result of collaboration among national entities under the umbrella of Egypt’s National Climate Change Strategy 2050 and is based on Egypt’s Vision 2030, aiming to accelerate the implementation of the national climate agenda.
Mashat added that the “NWFE” platform offers opportunities to mobilize climate finance and attract private investments to support Egypt’s green transition through realistic, implementable climate projects that link climate action with development efforts and transform climate pledges into practical steps.
Minister Mashat pointed out that “NWFE” is based on principles of national ownership, cross-sector coordination, and high-impact, large-scale implementation.
She added that the platform includes nine priority projects in the energy, food, and water sectors, selected from the National Climate Change Strategy 2050, with sustainable transport projects added under what is called “NWFE” in collaboration with national stakeholders and relevant entities, reinforcing Egypt’s transition to a low-emission economy.
The minister noted that the “NWFE” national platform, in partnership with international financial institutions, global alliances, and investment funds, has provided innovative financial tools to incentivize private sector investment in green projects.
In just two years, Egypt succeeded in mobilizing $3.9 billion in concessional financing for the private sector to implement renewable energy projects with a capacity of 4 gigawatts, in addition to strengthening investments in the national electricity grid, she added.
Source: The Egyptian Gazette
