Minister Al-Mashat participates in a discussion session titled “Towards a New Paradigm: Fostering the Nexus-based Solutions to Get Back on Track for Climate and Sustainable Development”
Minister Al-Mashat reviews the implementation mechanisms of the "NWFE" program and emphasizes cooperation with African countries to transfer Egypt's expertise in developing climate action platforms.
Dr. Rania A. Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, participated in a discussion session titled “Towards a New Paradigm: Fostering the Nexus-based Solutions to Get Back on Track for Climate and Sustainable Development” during the second day of the 5th Arab Sustainable Development Week.
The event is taking place from November 24 to 27, 2024, under the theme “Sustainable Solutions for the Future: Embracing Resilience, Adaptation and Progress in the Ever-evolving Arab World,” under the patronage of H.E. President Abdel Fattah El-Sisi, President of the Arab Republic of Egypt.
The session included participation from Dr. Hani Sweilem, Minister of Water Resources and Irrigation, Dr. Hassan Aboelnga, Chairman of the Urban Water Security Working Group at the International Water Resources Association, Dr. Nuria Sanz, Director of the UNESCO Regional Office for Egypt and Sudan, Mr. Grammenos Mastrojeni, Senior Deputy Secretary-General for Energy and Climate at the Secretariat of the Union for the Mediterranean, Dr. Amgad Al-Mahdi, Regional Director at the Green Climate Fund for the Middle East and North Africa, Dr. Marwan Al-Raggad, Executive Director of the Islamic Network for Water Resource Management, and Dr. Heba Abbas, Chairwoman of the Sustainability Committee at Kuwait Water Association.
In H.E.’s speech, Dr. Rania Al-Mashat emphasized that the NWFE Program platform has transformed mitigation and adaptation goals into investable projects to overcome challenges related to implementing Nationally Determined Contributions (NDCs). This is achieved through a country-led, practical approach that brings together all relevant parties to ensure efficient and effective addressing of priority sectors while mobilizing both public and private finance. The Ministry is working with several African countries to exchange experiences and provide them with Egypt's expertise in establishing national platforms.
H.E. Minister Al-Mashat added that the platform aims to accelerate the national climate agenda and create opportunities to mobilize climate finance and private investments to support Egypt’s green transition. This reflects the interconnection and integration between climate action and development efforts. Egypt is leveraging its partnerships with various stakeholders to mobilize finance, provide technical assistance, and attract private investments through innovative financing methods, including blended finance.
The Minister outlined that the projects included in the program aim to replace inefficient thermal power plants with renewable energy, enhance small farmers' resilience to climate risks, increase crop productivity and irrigation efficiency, build resilience in vulnerable areas, develop desalination capacity, establish early warning systems, and modernize agricultural practices. The platform also aims to integrate sustainable practices across these vital sectors, ensuring long-term resource efficiency and resilience to climate change. The program’s governance approach has been strengthened through a steering committee involving relevant ministries, along with a robust monitoring and evaluation system to ensure effective resource allocation and track progress toward achieving specified investments.
H.E. Dr. Al-Mashat emphasized that, to simplify collective efforts towards the green transition, the approach for country platforms is crucial to facilitating transformation in key economic sectors. At COP28, a high-level expert group reaffirmed, through the UAE leaders' declaration on the global climate finance framework, the critical role of country-led platforms in addressing urgent needs and priorities.
H.E. Minister Al-Mashat referred to a joint statement issued by 12 multilateral banks during COP29, confirming that national platforms can be powerful mechanisms to support the development and implementation of countries' strategies, NDCs, national adaptation plans, and climate finance mobilization efforts.
H.E. Dr. Al-Mashat also highlighted that through a public-private partnership approach in various strategic sectors, many projects have been developed, including those in renewable energy, green hydrogen, desalination, and transport. H.E. affirmed that the program contributes to mobilizing numerous financing mechanisms, including debt swaps, guarantees, concessional finance, grants, private investments, blended finance, and the provision of grants during the design phase, while technical assistance enhances the project’s feasibility.
H.E. Minister Al-Mashat concluded by stating that fostering an effective and conducive environment requires the development of regulatory and institutional arrangements, capacity building, and the creation and deepening of markets for low-carbon development pathways, which are steps that enhance the effectiveness of country climate action platforms.