Minister of International Cooperation, Rania Al-Mashat

Minister of International Cooperation, Rania Al-Mashat

CAIRO – 15 January 2022: Minister of International Cooperation Rania el-Mashat said Egypt is looking forward to finalize agreements on funds allocated for “NWFE” Program for linking water, food and energy sectors which might be price of $14.7 billion before the twenty eighth session of the Conference of the Parties (COP28) to the UNFCCC that may convene in Dubai from Nov. 30 to Dec. 12.

 

In statements to MENA Sunday, the minister said the Egypt National Climate Change Strategy (NCCS) 2050 – that the Cabinet approved in July – is an enormous strategy covering quite a lot of giant projects for adaption and assuaging the impact of climate changes, encompassing sustainable transportation, water desalination, latest and renewable energy projects and food security across Egypt, stating that sources for funding the strategy’s mechanism haven’t yet been set.

 

In accordance with Mashat, financing sources would come with the State General Budget and the private sector, along with easy financing through development corporations.

 

The minister noted that “NWFE” Program funds increased through the COP27, that was held within the Red Sea resort city of Sharm el-Sheikh in Nov. 2022 to achieve $10.3 billion.

 

Egypt launched the “NWFE ” Program to draw funds and investments for a listing of green projects within the water, food and energy sectors.

 

“NWFE ” Program total investments include dlrs 10 bn for the energy sector, $1.35 billion for the water sector and $3.35 billion for the agriculture and food security sectors, Mashat said.

 

The Ministry of Environment prepared this program in cooperation with the ministries concerned with respect to the National Climate Change Strategy 2050 and the Nationally Determined Contributions Plan 2030, that resulted in a package of programs and projects that were classified and merged to be projects that support the sphere of Water–Energy–Food nexus.

 

The projects of the “NWFE” Program aim to advertise eco-friendly projects with respect to the National Climate Change Strategy 2050, and to boost Egypt’s Vision 2030, through the lively participation in financing the list of projects by development partners, international financial institutions, multilateral development banks, in addition to the private sector

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