Al-Mashat: "We review together the progress made in the "NWFE" program for the second consecutive year, in line with the principles of transparency."

Climate change is more costly for developing countries, and the climate financing gap is widening every year.

Egypt has presented a comprehensive model based on national ownership that integrates development and climate action.

H.E. Dr. Rania A. Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, delivered the opening speech at the launch event of the second progress report of the country platform for the "NWFE" program, focusing on the nexus between water, food, and energy projects. The event was held under the patronage and presence of H.E. Dr. Mostafa Madbouly, Prime Minister, Lieutenant General Eng. Kamel El-Wazir, Deputy Prime Minister for Industrial Development, Minister of Industry and Transport, Dr. Hani Sewilam, Minister of Water Resources and Irrigation, Dr. Mahmoud Esmat, Minister of Electricity and Renewable Energy, and Mr. Alaa Farouk, Minister of Agriculture and Land Reclamation. Representatives of development partners included Mark Bowman, Vice President of the European Bank for Reconstruction and Development, Malinne Blomberg, Deputy Director-General of the African Development Bank, Guido Clary, Head of the Regional Hub of the European Investment Bank, and Mark Davis, Managing Director for the Southern and Eastern Mediterranean (SEMED) region at the European Bank for Reconstruction and Development. Additionally, Alvaro Lario, President of the International Fund for Agricultural Development (IFAD), participated with a recorded speech.

In H.E.’s speech, Dr. Rania Al-Mashat explained that the event organized by the Ministry of Planning, Economic Development, and International Cooperation aims to review the progress made in implementing projects under the country platform for the "NWFE" program, one of the initiatives launched during Egypt's presidency of the COP27 Climate Conference. 

H.E. Minister Al-Mashat pointed out that this event is being held for the second consecutive year to track the implementation of projects and look ahead to future steps.

H.E. Dr. Al-Mashat added that the climate financing gap continues to widen, with adaptation and mitigation efforts requiring an additional investment of nearly $366 billion annually in developing countries. These countries are the most affected by the impacts of climate crises and successive natural disasters. Meanwhile, Africa's needs were estimated at approximately $2.7 trillion by 2030, equivalent to $400 billion annually. This necessitates the urgent contribution of the private sector to the required investments for climate action.

H.E. Minister Al-Mashat noted that, amidst geopolitical tensions and economic crises, the severity of climate change is increasing, which requires a significant rise in funding, particularly for developing countries and activities related to climate adaptation. H.E. Dr. Al-Mashat emphasized the growing international momentum around development finance and climate action. This is with the aim to present an innovative model to overcome the challenges posed by climate change, with minimal costs and maximum efficiency and effectiveness.

H.E. Dr. Al-Mashat highlighted that practical experience has shown that development and climate action are two sides of the same coin. From this perspective, and reflecting Egypt’s ambition in climate action, the Egyptian government worked diligently during its presidency of COP27 to present an innovative and more comprehensive mechanism that is applicable in various economic, social, and business systems and emerging markets. This mechanism aims to enhance the optimal use of development resources and achieve resilience in the face of climate change.

H.E. Dr. Al-Mahat also discussed the launch of two initiatives under Egypt’s presidency of COP27: the "Sharm El-Sheikh Guidebook for Just Financing" and the country platform – the "NWFE" program, aimed at providing practical frameworks to move from commitment to implementation. The Sharm El-Sheikh Guide aims to promote the principles of just financing and define the roles and responsibilities of all relevant parties, including governments, international organizations, civil society, and the private sector, with the aim of enhancing the capacity of developing and emerging countries to attract green finance and investments.

H.E. Minister Al-Mashat continued, "The country platform for the “NWFE” program embodies the model of multilateral country platforms based on country ownership, shared responsibility, and transparency, as endorsed by the G20, with international institutions issuing joint recommendations to benefit from Egypt’s experience in accelerating the achievement of sustainable development goals, particularly those related to climate action."

H.E. Dr. Al-Mashat outlined that, in line with the principles of governance and transparency in international partnerships, which are an essential part of economic diplomacy, the Ministry launched the first progress report. The report tracked a year of implementation and joint work with various stakeholders in the NWFE program, for the nexus of water, food, energy, and sustainable transport sectors. Today, the second progress report is being launched to monitor the progress of the project.

H.E. Minister Al-Mashat expressed gratitude to H.E. Dr. Mostafa Madbouly, the Prime Minister, for his active role in supporting the country platform – the "NWFE" program, as part of Egypt's commitment to its Nationally Determined Contributions (NDCs). She also thanked the Deputy Prime Minister for Industrial Development, the Minister of Industry and Transport, the Minister of Electricity and Renewable Energy, the Minister of Housing, Utilities, and Urban Communities, the Minister of Agriculture and Land Reclamation, the Minister of Water Resources and Irrigation, the Minister of Environment, and all technical teams at national entities for their efforts in the technical qualification stages of the projects and the launch of this ambitious platform.

H.E. Dr. Al-Mashat also commended the role of development partners, including the European Bank for Reconstruction and Development, the African Development Bank, the International Fund for Agricultural Development, and the European Investment Bank, for their efforts in supporting the Egyptian government in fulfilling its climate commitments.