This announcement occurred at the end of the high-level roundtable held by the Ministry of International Cooperation, in the presence of Prime Minister Mostafa Madbouly.
Kanapinskaite elaborated that the financing include $300 million in concessional development financing for the government, and €1 billion for the private sector to enhance its contribution to the transition to renewable energy.
The French Development Agency (AFD) is committed to support the implementation of the Nexus of Water, Food and Energy platform (NWFE program), Egypt country head of the AFD, Clémence Vidal de la Blache.
According to Mashat, financing sources would include the State General Budget and the private sector, in addition to easy financing through development companies.
Maait elaborated the financing came through the signing of several agreements on the sidelines of the "Funding Day" activities to provide appropriate financing from several parties to achieve sustainable food security, the transition to clean and renewable energy and the development of the water sector.
This came in the light of multilateral cooperation efforts to support the State's development vision.
This comes in the light of efforts to mobilize concessional development funding and strengthen international partnerships to implement the National Climate Change Agenda 2050, and the nationally determined contributions of NDCs.
Al-Mashat calls for an international response to mobilize $25 billion for Accelerating the Adaptation efforts in Africa .
Al-Mashat met with the UNESCWA’s Executive Secretary, Rola Dashti where they discussed Egypt’s Country Platform for the NWFE Program, the Sharm El-Sheikh Guidebook for Just Financing, and Egypt’s country experience on debt swaps with Italy and Germany.
NWFE Program, launched by the Egyptian Ministry of International Cooperation in July, is a mechanism to promote the implementation of green development projects in the vital sectors of water, food and energy by attracting foreign funds in this regard.
President El-Sisi gave directives to provide support for national programs that promote climate action and to cooperate with international partners to present successful national models to build-on regionally and internationally, in line with Egypt’s goals towards the issue of climate change.