Al-Mashat, Schuknecht Discuss Climate Cooperation

Minister of International Cooperation Rania Al-Mashat had a meeting with Ludger Schuknecht, Vice President and Corporate Secretary of the Asian Infrastructure Investment (AIP) Bank.

During the meeting, Al-Mashat and Schuknecht reaffirmed their commitment to unlocking cooperation in climate-resilient infrastructure and smart cities.

Moreover, Al-Mashat highlighted that Egypt remains closely engaged with the investment policies and strategies of international development partners, financial institutions and the private sector, working under the vision of cooperative governance to align priorities, resources and knowledge to implement more sustainable projects in Egypt.

The Ministry’s country-led multi-stakeholder engagement framework unpacks two facets of collaboration: cooperation and coordination.

Under a strategic umbrella to scale up policies in all sectors, the framework aligns partners' commitment and interests with national priorities as a key determinant of collaborative success.

In the same vein, the ministry also pays attention to the critical role of coordination, which helps resolve gaps and challenges, and ensures that all partners participate in all stages of a project’s life cycle.

Al-Mashat also stated that Egypt has embarked on several economic reforms that have contributed to the infrastructure boom over the past couple of years, as over the next few years, the government plans to introduce 38 new smart cities across the country.

However, the sustainability of these smart city projects relies on integrating stakeholders’ interests and public-private partnerships, creating a supportive ecosystem through an efficient smart city platform that brings development partners, investors, researchers, and other smart city actors together to reach Egypt’s energy and climate targets.

On his part, Schuknecht noted that he looks forward to engaging with the government's policies, stressing that Egypt enjoys a large portfolio with the Bank exceeding one billion dollars, which includes investments directed to the private sector.