16 April 2024 06:38 AM

Sisi orders optimum use of COP27 developmental deals

Monday، 28 November 2022 - 09:12 PM
President Abdel Fattah El Sisi

President Abdel Fattah El Sisi has ordered an optimum use of developmental financing deals which were clinched during the 2022 UN climate change conference, COP27, that was held in Sharm el Sheikh earlier this month.


President Sisi gave these instructions during a meeting with Prime Minister Moustafa Madbouli and International Cooperation Minister Rania el Mashat Monday.


Presidential Spokesman Bassam Radi said the meeting discussed ways to allocate such financing to carry out national projects for green transition and fulfill the outcomes of the global climate summit.


Radi added "NWFE" national platform was supported and commended by international partners at COP27.


The platform is a pioneering Egyptian example that is integrating development efforts and the climate action agenda through allocation of various finances to green developmental projects within a unified national program, said the spokesman.


For her part, Mashat talked about the outcome of the global climate summit and said financing deals to the tune of 10.3 billion dollars were reach through agreements and finance packages with bilateral and multilateral development partners in order to help Egypt carry out national projects in water, food and energy domains.


Egypt’s Country Platform for the Nexus of Water, Food and Energy (NWFE) Program aims to accelerate the national climate agenda. The Platform provides opportunities for mobilizing climate finance and private investments to support Egypt’s green transition, reflecting the interlinkages and complementarity between climate action and development efforts. This is realized through the design, structuring and preparation of concrete and implementable climate action projects, moving the National Climate Change Strategy 2050 from pledges to implementation. The NWFE Program sets a practical and replicable demonstration of the concept of Country Platforms anchored in 2018 by the G20 Eminent Persons Group on Global Financial Governance, which proclaims that country ownership of development objectives guides coordinated efforts of all stakeholders to yield and scale-up more successful, impactful and sustainable results.


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