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  • Thursday, 07 December 2023

The Minister of International Cooperation, H.E. Dr. Rania A. Al-Mashat, Holds Multiple Bilateral Meetings with Heads of International Financial Institutions and Representatives of Development Partners and Financial Institutions at COP28

● Al-Mashat discusses with the heads of the EBRD, AfDB, AIIB, IFAD and CIF future partnerships and the implementation of NWFE program projects.

● Al-Mashat discusses enhancing joint cooperation with the United Nations under the umbrella of the UNSDCF 2023-2027.

The Minister of International Cooperation,H.E. Dr. Rania A. Al-Mashat,  held a number of bilateral meetings with representatives of multilateral and bilateral development partners, during her participation in COP28 in the United Arab Emirates.

Al-Mashat  met with the Presidents of the European Bank for Reconstruction and Development (EBRD), Asian Infrastructure Investment Bank (AIIB), African Development Bank (AfDB), International Fund for Agricultural Development (IFAD),  Climate Investment Fund (CIF) and the Deputy Director General of the International Monetary Fund (IMF), Under-Secretary-General of the United Nations and the Executive Director of the United Nations Office for Project Services (UNOPS).

The European Bank for Reconstruction and Development (EBRD), and the Asian Infrastructure Investment Bank (AIIB)

Al-Mashat discussed with Odile Renaud Basso, President of EBRD, and Jin Liqun, President of the AIIB, ways to enhance joint cooperation in light of confronting the climate changes that the world is suffering from, especially developing and emerging countries. H.E. also discussed, moving forward with constructive partnerships to advance the green transformation through implementing energy pillar projects within the NWFE program, and future steps in terms of continuing to mobilize innovative financing tools in cooperation with development partners and national entities.

H.E. also discussed with the AIIB the pillars of work during the coming period through the bank’s contribution to the implementation of many projects in the sustainable infrastructure pillar, including the Abu Qir Metro project in Alexandria, in light of the state’s priorities and the climate action plan launched by the  Bank in September 2023, which represents a commitment towards strengthening the fight against climate change

The African Development Bank

Al-Mashat met with Akinwumi Adesina, President of the AfDB-the main development partner in the water pillar within the NWFE program. The meeting included discussing the continuation of technical cooperation in cooperation with national authorities in Egypt and development partners, to continue the process of studying the qualification for water pillar projects, and strengthening partnership with the private sector to move forward towards implementing these projects that come in light of the state’s priorities to enhance sustainable management of water resources. The water pillar includes three main projects: desalinating water using renewable energy, expanding irrigation systems with solar energy, and improving agricultural climate resilience by modernizing agricultural practices.

The AfDB is the main development partner in the water pillar, based on its previous experience that extends over decades with Egypt in implementing many projects. The Bank is also working to launch and inaugurate a number of initiatives and mechanisms that seek to enhance green financing and climate action and support the ability of African countries to withstand, adapt and confront climate change, including the partnership with the African Union, Africa 50 and many global partners to launch the Alliance for Green Infrastructure in Africa (AGIA).

The International Fund for Agricultural Development

Al-Mashat met with the President of the IFAD, where she initially appreciated the fruitful and effective cooperation between the government and the Fund - the main development partner in the food pillar within the NWFE program - in coordination with various relevant parties and development partners, to enhance technical qualification and support Efforts to mobilize concessional development financing and innovative financing tools for projects that enhance food security within the programme.

The Minister of International Cooperation also reviewed, with the President of the Fund, the first follow-up progress report of the NWFE program, and its results that were announced last November in a high-level preliminary event before COP28. The report includes details of the efforts that took place over the course of a year in cooperation with the IFAD. Among which is enhancing connectivity and integration by combining similar projects and activities in order to maximize the benefit from operations and support from development partners, benefiting from the technical support provided by development partners, especially the IFAD and the World Bank, to complete the technical design of the project.

For his part, the President of the IFAD Alvaro Lario  said, “I am always happy to meet the Egyptian Minister of International Cooperation; We worked for a year on the food pillar within the NWFE program, and we are proud of what we have achieved over that period, and we are jointly committed with the government to promote sustainable climate action and food security in Egypt.”

The Climate Investment Fund

Al-Mashat met with Luis Tineo, the new president of the CIF, which is one of the international platforms supporting climate action in developing and emerging countries. At the beginning of the meeting, Al-Mashat thanked Mafalda Duarte, the former President of the Fund, for the cooperation over the past period, and said that the Fund is one of the international partners in the energy pillar within the NWFE program.

In a related context, it’s important to note that for the first time in North Africa and Europe and under the Nature, People and Climate (NPC) Investment Program, a grant worth $4 million will be provided, and $40 million in soft development financing will be provided to support climate action.

H.E. confirmed that technical discussions will continue with the Fund during the beginning of next year to determine the details of the projects and future steps before preparing the investment and implementation plan for the initiative in consensus between all relevant parties and in accordance with national priorities and needs, focusing on 3 main sectors: climate-smart agriculture, including water management, agricultural business, and management of coastal areas.

The United Nations Office for Project Services

Al-Mashat also met with Jorge Moreira da Silva, Under-Secretary-General of UNOPS, as the Office is the one responsible for providing project management, procurement, and infrastructure services to United Nations agencies, governments, and other companies. The two discussed strengthening joint cooperation in light of the UNSDCF 2023-2027, which Egypt launched during the current year after about two years of consultations with national authorities and the United Nations Resident Coordinator.

The meeting also discussed several aspects of cooperation, including strengthening South-South cooperation and transferring Egypt’s development expertise and experiences with development partners to developing countries and emerging economies, in addition to reviewing the NWFE program, and other areas of cooperation.

During a meeting with the Deputy Director General of the IMF, Al-Mashat stressed the importance of the ongoing efforts to reform international financial institutions, led by the IMF and the World Bank, the two largest international institutions, in order to enhance their role in confronting global challenges at the level of development and climate.

To download the follow-up progress report of the NWFE program in Arabic:

For English: