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  • Wednesday, 12 April 2023

During the World Bank and International Monetary Fund Spring Meetings in Washington, Minister of International Cooperation H.E. Dr. Rania A. Al-Mashat Discusses NWFE Developments with the US Special Presidential Envoy for Climate

● Al-Mashat: We are moving forward in taking the necessary technical steps in cooperation with the relevant entities to accelerate the pace of implementation of the projects included in the NWFE program.

● The USA is keen to support Egypt's efforts in transitioning to a green economy, and the NWFE program is an effective model for many countries.

During her continuous meetings within the activities of the World Bank (WBG) and International Monetary Fund (IMF) 2023 Spring Meetings, H.E. Dr. Rania A. Al-Mashat, Minister of International Cooperation and Governor of Egypt at the World Bank Group (WBG), met John Kerry, the United States Special Presidential Envoy for Climate, and David Thorne, Senior Advisor to the Secretary of State.

This came during a reception organized by Michael Bloomberg, UN Special Envoy for Climate Ambition and Solutions, on the sidelines of the Spring Meetings, to honor Kristalina Georgieva, Managing Director of the IMF, for her leadership in climate action efforts.

During the meeting, Al-Mashat discussed with the US Presidential Envoy for Climate, the results of COP27, which was held in Sharm El-Sheikh at the end of last November, and the steps taken so far in order to implement the NWFE program, which focuses on linking water, food and energy projects implemented by the Ministry of International Cooperation in cooperation with development partners. This represents a model for national platforms aimed at stimulating development efforts and climate action.

Al-Mashat thanked the US Presidential Envoy for Climate for the continuous support for the NWFE program and noted the measures taken by the Government of Egypt to advance sustainable and comprehensive development efforts and stimulate climate action regionally and internationally in light of its COP27 presidency, as well as the issuance of the joint political declaration between Egypt, the USA and Germany, supporting the energy pillar within the program.

H.E. referred to moving forward with procedures and technical steps related to preparing projects and strengthening efforts between national entities, development partners and the private sector to implement agreed projects, under the umbrella of the 2050 National Climate Change Strategy.

For his part, Kerry noted the United States' keenness to support Egyptian efforts in transitioning to a green economy, pointing out that the NWFE program is a practical and effective model for the world in terms of national platforms for climate action and development.

The NWFE program was launched by the Ministry of International Cooperation with the participation of national entities and development partners in early July 2022. During the period leading up to COP27 in November, efforts and discussions were intensified in order to reach agreements, letters of intent and memorandums of understanding that were signed during the climate conference.

The African Development Bank (ADB) is the lead development partner in the water pillar, the European Bank for Reconstruction and Development (EBRD) is the lead development partner in the energy pillar, and the International Fund for Agricultural Development (IFAD) is the lead development partner in the food pillar.

Moreover recently, H.E. Dr. Mostafa Madbouly, Prime Minister of Egypt, witnessed the signing of the financial agreement for the new wind farm construction project - located near Ras Ghareb in the Gulf of Suez region - with a capacity of 500 megawatts and investments of $680 million. This is a cooperation between “Red Sea Wind Energy”  and a group of banks and international financing institutions. The project is the first for the private sector to be financed within the energy pillar of the national platform of the NWFE program.