Egypt Signs Partnership Agreements with Int'l Financial Institutions to Support NWFE

Egypt signs partnership agreements and letters of intent with international financial institutions and development partners to support the National Platform for Green Projects "NWFE" program, a nexus of water, food & energy.

In the light of COP27, being held from 6 November until 18 November 2022 in Sharm El Sheikh, Egypt, and in the presence of leaders and heads of state, United Nations organizations and international institutions, the Government of Egypt signed partnership agreements and letters of intent with international financial institutions and multilateral and bilateral development partners to mobilize concessional development financing, technical support and private sector investments to implement the National Platform for Green Projects "NWFE" programme.

NWFE is a national integrated programme and regional and international approach to mobilize affordable green finance, innovative financing mechanisms, technical support grants, and private sector investment. Under the umbrella of the National Climate Change Strategy 2050, to implement NDCs, consistent with National Development Vision 2030 and the United Nations Sustainable Development Goals, this is reflected in the achievement of inclusive and sustainable growth, increases the standard of living of citizens in the target areas and achieves the required protection against the consequences of climate change.

The "NWFE" programme includes 9 priority projects in the water, food and energy sectors, identified from among those included in the National Climate Change Strategy, under the priority and necessity of such projects to stimulate inclusive and sustainable growth and enhance food and water security, with total investments of about $15 billion, and varying between mitigation and adaptation projects from the effects of climate change.