The Minister of Cooperation discusses the participation of the World Bank in the “Noufi” program to finance green projects

Dr. Rania Al-Mashat, Minister of International Cooperation, in a video conference meeting with Marina Weiss, Country Director for Egypt, Yemen and Djibouti at the World Bank, discussed the World Bank Group’s participation in the “Nowfi” program launched to list finance green government projects in the fields of energy, food and water.

The program falls under the umbrella of the National Strategy for Climate Change, and in light of Egypt’s preparations to host the Climate Summit, which will be held in Sharm El-Sheikh next November.

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The Minister of International Cooperation pointed to the importance of the strategic partnership between the government and the World Bank Group, which is reflected in the support of the development efforts undertaken by the country, through effective development cooperation.

She pointed out that work is currently underway on the joint country strategy for the period 2023-2027, to represent a new addition to the expanded collaboration with the World Bank, which aims to stimulate job growth in the private sector, inclusion outcomes improve and human capital, improve resilience to shocks, and improve Governance, regional integration and the empowerment of women as a priority at the level of all sectors.

She indicated that the government is eager for the effective participation of development partners, international financial institutions, multilateral development banks, as well as the private sector in the financing of these projects, as it is crucial to overcome the repercussions of climate change and protect the environment to preserve. and to transform global pledges to finance climate action into measures and realistic measures that stimulate climate finance in developing countries and emerging economies.

In a related context, she met the Minister of International Cooperation, Robert Pogoda, Director of Operations of the World Bank Group, and the working group for the preparation of the Climate and Development Report for Egypt CCDR.

The meeting dealt with the discussion and follow-up of the inclusion of the observations of the national authorities in the report, the first draft of which was prepared.

In early July, the Minister of International Cooperation held a meeting that included 15 national authorities, with the participation of the head of the Environmental Affairs Agency, to discuss the first draft of the report and the observations of the national authorities involved in the report on It.

The Climate and Development Report for Egypt reviews how climate change affects development efforts and the achievement of sustainable development goals.

It also takes into account the steps and measures that the state is taking in various fields to improve green transformation efforts and combat the effects of climate change. It also monitors the state’s economic resilience and ability to withstand shocks and changes in the climate and nature.

Dr. Rania Al-Mashat, Minister of International Cooperation, confirmed the ministry’s commitment to continuous coordination between national authorities and the World Bank Group regarding the preparation of the report and to incorporate all the observations made during the meeting in early July close to ensure that the report came out in a way that expresses all sectors and monitors the efforts already undertaken by the state in the field of climate action.

She pointed to the importance of the Climate and Development Report for Egypt, as it comes at an important time when the country is preparing to preside over the United Nations Climate Conference COP27.

She pointed out that successive steps are being taken to support the green transformation and combat the repercussions of climate change, including the launch of the National Climate Change Strategy 2050, and the beginning of the preparation of lists of green projects to include among development partners. promote.

She explained that Egypt is moving forward towards the implementation of successive measures to achieve green transformation, reduce harmful emissions and switch to renewable energy.

Last April, the Ministry of International Cooperation held an extensive meeting between representatives of the Egyptian government and the World Bank, to discuss the preparation of a framework for the strategic partnership between Egypt and the World Bank for the period 2023-2027, within the framework of President Abdel Fattah El-Sisi’s directives to obtain maximum benefit from development cooperation with partners’ development.

This came with the participation of the Ministers of Environment and Education and some 20 national bodies, including the ministries of higher education, scientific research, health, irrigation, agriculture, social solidarity and local development, and the National Council for Women.

Recently, the World Bank Group approved $500 million in development financing for Egypt, within the framework of the Emergency Response Project between Egypt and the World Bank Group, to support food security and resilience efforts and the impact of the Russian-Ukrainian war and its impact on food security, especially that Russia and Ukraine of the largest wheat exporters. In the world, the ongoing war contributed to the high prices of wheat and the shortage of supply in the markets.

It is worth noting that Egypt is one of the countries that enjoys a strategic partnership with the World Bank Group, where the volume of the ongoing development cooperation portfolio amounts to $5.18 billion, to finance 15 projects in various development sectors such as transport, education, housing, health , social protection networks, petroleum, housing, sanitation, local development and the environment. .

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