Egypt: Dr Mustafa Madbouly, Prime Minister of the Cabinet, chaired the meeting of the Supreme Committee of the National Council for Climate Change on the evening of June 25, 2023 (Sunday).
As per the official reports, the meeting was aimed at discussing a number of topics and aspects related to the weather and climate change issues. During the meeting, the Minister of International Cooperation pointed out the interventions of President Abdel Fattah El-Sisi, during his participation in the session of “New Mechanisms, Partnerships for Green Growth”, held as part of the recent New Global Financing Agreement summit in Paris.
Reportedly, President Abdel Fattah El-Sisi, made it clear in his speech regarding what Egypt has provided from a practical model through the Innovative Experience of the “Noufi” program, which aims to boost partnerships and provide fair and sustainable financing to drive climate action for water and food stations.
In addition to this, he also highlighted energy in an integrated framework, where the program includes a platform for investmentable projects. President further highlighted that it was launched in partnership with stakeholders from development partners, international funding institutions and the private sector to support the program through accessible and mixed development finance.
President Noah El-Sisi, during his interventions, added that the “Noufi” program, which comes under the implementation of the National Climate Change Strategy 2050, and nationally defined contributions “NDCs”; includes a curated list of national priority projects in the area of climate change mitigation and adaptation, by linking power, food and water hubs, with total investments around $14.7 billion, including huge projects in the renewable energy sector to replace thermal power stations with renewable energy at the cost of $10 billion, as per the latest update.
Further, it has been reported that the European Bank for Reconstruction and Development is a major development partner in mobilizing financing mechanisms and coordinating work between relevant parties to implement the power hub within the program.
The program is a replicable model in developing and emerging countries, highlighting the role of national platforms in attracting climate funding.
The minister also clarified that the interventions of President Abdel Fattah El-Sisi also included referring to what was issued in a joint political declaration between the Arab Republic of Egypt, the United States of America, and the Federal Republic of Germany, to support the energy hub within the (Noufi) program, cooperation documents, the speech of intent and memorandum of understanding signed with development partners were also noted.
Moreover, amid the meeting, the Minister of International Cooperation reiterated the continued coordination with the key development partners for each hub of the Noufi program and the further activation of steps related to technical support and mobilizing development funding to accelerate the pace of project implementation.
Ambassador Nadir Saad, the official spokesperson of the Cabinet, said during the meeting proposals to update nationally defined contributions “NDCs” on the renewable energy ratio in the energy mix were also reviewed, indicating that this step would contribute to opening up the sector for accessible development funding, and mobilize various financing mechanisms Of the development partners, either at the bilateral or multilateral level.
The meeting was attended by Dr Mohamed Shaker, Minister of Electricity and Energy; Dr Hala Al-Said, Minister of Planning and Economic Development; Dr Rania Al-Mashat, Minister of International Cooperation; Dr Mohamed Moit, Minister of Finance; Dr Yasmin Fouad, Minister of Environment, and Qaseer, The Minister of Agriculture and Land Rehabilitation; Major General Hisham Amana, Minister of Local Development; Ambassador Mohamed Nasr, Director of the Department of Climate Change, Environment and Sustainable Development of the Ministry of Foreign Affairs, and ministry officials and stakeholders.