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  • Wednesday, 02 November 2022

During Next Week’s COP27 in Sharm El-Sheikh: Signing a number of low-cost sustainable green financing to stimulate private sector engagement with joint investments and a blended finance approach, all within the framework of the country platform for the NWFE Program.

● The Ministry of International Cooperation will announce partnerships within the 9 NWFE Projects,  within the program that is worth about $15 billion, to implement the NDC, moving from pledges to implementation. 

● Opportunities presented by the Government of Egypt for the participation of the private sector in renewable energy and water desalination projects, enhancing resilience.

● In addition to the NWFE Program, the Ministry will also sign a variety of green financing development agreements and technical support to expand progress in the sectors of transport, housing, electricity, finance, irrigation and the environment, worth $1 billion within  the Egypt - Partnership Agreements for Climate Transition .

● The Sharm El-Sheikh Guidebook for Just Financing will be Launched With the Participation of International Financial Institutions, Private Sector and Philanthropic Organizations

● The Startups for the ClimaTech Run Competition will be Announced

● A Number of Joint Events With Development Partners and International Institutions, as well as Signings of Development Financing Agreements to Support Egypt’s Green Transition Efforts

● Minister of International Cooperation: The NWFE Program reflects the objectives of the COP27 Presidency, Moving From Pledges to Implementation, and Represents a Replicable Model for Other Countries to Replicate

● The Government of Egypt is working to mobilize development financing and technical support, stimulating private sector engagement in priority projects. 

● The Egypt - International Cooperation Forum’s Communique included recommendations on Africa’s vision for climate action pre-Finance Day, and the international partnerships that will be announced during the COP27.

In light of Egypt’s COP27 Presidency,  and in line with the Government of Egypt’s commitment to increase cooperation with multilateral and bilateral  partners, the Ministry of International Cooperation announced 3 main activities during the upcoming climate conference to promote joint action and advance comprehensive and sustainable development efforts within the country. 

The COP27 will witness announcements on the results of ongoing discussions and partnerships with multilateral and bilateral development partners, as well as the presentation of the NWFE Program results, the nexus of water, food and energy, in line with the country's objectives and 2050 National Climate Change Strategy and commitment to go from pledges to implementation.

The NWFE Program was prepared under the umbrella of the 2050 National Climate Change Strategy and the Nationally Determined Contributions (NDC) in order to enhance efforts to achieve inclusive and sustainable growth, achieving a low-carbon development and developing resilience and adaptability to climate change. This includes improving governance and accelerates progress towards climate action by enhancing infrastructure to finance climate activities, as well as promoting scientific research activities and technology transfer. 

The Ministry of International Cooperation announced that the NWFE program includes 9 projects that represent a priority for the state in the intertwined water, food and energy sectors, including mitigation and adaptation, with investments worth approximately $15 billion to support implementation with one main energy project, five projects in food security and agriculture and 3 projects in irrigation and water. 

For More Information on the NWFE Program:

The Workflow

The Minister of International Cooperation H.E. Dr. Rania A. Al-Mashat said that the NWFE Program is in light of the directives from H.E. the Prime Minister Dr. Mostafa Madbouly to prepare a list of green projects in cooperation with national entities to be promoted for development financing and technical support in a way that stimulates private sector engagement and the expansion of innovative financing tools.

Al-Mashat noted that in order to move forward in a clear course of action characterized by governance and coordination with development partners, for each of the NWFE Program’s access (Water, Food and Energy), a development partner was selected as a coordinator.  For the energy sector, the European Bank for Reconstruction and Development (EBRD) was selected, for the food sector, the International Fund for Agricultural Development (IFAD) was selected, and for water, the African Development Bank (AfDB)  was selected.

The Minister stated that over the course of more than 6 Multi-Stakeholder Platforms held on the NWFE Program, more than 30 coordination meetings, and over 20 technical meetings at the level of working groups locally and globally, we have seen support, and clear international commitment by international financial institutions and multilateral and bilateral development partners to support the national platform for green projects. The NWFE Program was applauded for its transparent and replicable model,  aimed at mobilizing climate investments and stimulating private sector engagement. Al-Mashat noted that the results of these discussions will be announced during COP27.

During the second edition of the Egypt - International Cooperation Forum (Egypt - ICF) held under the patronage of H.E. President Abdel Fattah El-Sisi, President of the Arab Republic of Egypt, in September, 17 international institutions and development partners issued a joint statement for the NWFE Program and its importance in stimulating the green transformation, emphasizing its dynamic and participatory nature. The institutions that signed the joint statement are: Abu Dhabi Fund for Development, Africa 50, African Development Bank, Asian Infrastructure Investment Bank, the arab Fund for Economic and Social Development, Citi Bank, European Bank for Reconstruction and Development, European Investment Bank, Glasgow Financial Alliance for Net Zero (GFANZ), HSBC - Egypt, Industrial Renewable Energy Agency, International Fund for Agricultural Development, Islamic Development Bank, Japan International Cooperation Agency, Kuwait Fund for Arab Economic Development, OPEC Fund, United Nations, and the USA. 

Joint Statement on NWFE:

Finance Day: Sharm El-Sheikh Guidebook for Just Financing

The Minister also explained that the Sharm El-Sheikh Guidebook for Just Financing launch will witness extensive participation from multilateral and bilateral development partners, international financing institutions, international climate finance organizations, philanthropic organizations and the private sector.

The preparations for the Sharm El-Sheikh Guidebook for Just Financing features extensive consultations with the participation of over 100 international and regional institutions and development partners to develop a practical framework that can achieve integration between relevant entities enhancing access to climate finance to developing and emerging economies. 

Held pre-Finance Day, the 2nd Edition of the Egypt - International Cooperation Forum and the Meeting of African Ministers of Finance, Economy, and Environment, which was organized in partnership with the Ministry of Foreign Affairs, the Ministry of Finance, and the Ministry of Environment, with the United Nations Economic Commission for Africa as the co-convener. 

Egypt - ICF Communique:

Youth Day: ClimaTech Run 

On Youth Day, the Ministry of International Cooperation, the Ministry of Communications and Information Technology and the Ministry of Environment will announce the startups and digital artists who won the ClimaTech Run competition that was launched in August. 

The competition aims to motivate startups that are specialized in climate action technology and digital artists from around  the world, especially in Africa, contributing to innovative solutions in the face of climate change.

The Ministry of International Cooperation announced that over 422 startups across 77 countries from Asia, Africa, Europe, the Americas and Australia, reflecting the international nature of the competition and its commitment to bringing innovative ideas from youth around the world in addressing climate change. The participating startups provided solutions in many priority sectors, both mitigation and adaptation, such as renewable energy, food security, sustainable agriculture, water management, industry, urban development, transport, and others areas. The high-level jury is creating a shortlist of 15 startups that will be given the opportunity to present their projects at COP27. In the DigitalArt4Climate Track, over 166 artists from 55 countries applied, including 16 from Africa. This will be filtered in 33 designs that will be participating in the COP27.

Information on ClimaTech Run:

Joint Activities With Development Partners

The Ministry of International Cooperation is scheduled to organize a number of events with development partners, where an initiative will be launched on measuring resilience and adaptation with the IFAD, as well as a joint event with the World Economic Forum (WEF) on stimulating partnership between the government, private sectors and philanthropic organizations to unify efforts in achieving development, as well as a high-level round table on innovative and blended  financing in attracting private sector investments.

Also during COP27, the Ministry is announcing a partnership with the Climate Investment Funds (CIF), on promoting investment in sustainable agriculture and rural communities. The Ministry will also hold a joint event with the EBRD and the CIF to promote cooperation on green hydrogen. 

Green Finance

In light of the efforts made to mobilize development finance in cooperation with multilateral and bilateral development partners, and in coordination with relevant national authorities, the Ministry is also scheduled to sign a number of development agreements, whether at the level of granting technical support, development financing or blended finance, to support Egypt’s efforts in adaptation and mitigation, and this includes sustainable transport, water, sanitation and other priority sectors.

It is worth noting that the ongoing portfolio of development cooperation in climate finance for the implementation of adaptation and mitigation projects amounts to $11 billion, and includes many projects such at the Bahr El Baqar Water Treatment Plant, Al Mahsama Water Reclamation Plant, wind energy projects in the Gulf of Suez, among other fields.