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Egypt team up with int’l financial institutions, development partners for NWFE
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” program, a nexus of water, food & energy.
This took place on the sidelines of the 27th United Nations Climate Change Conference (COP27), currently held in Egypt’s Red Sea resort city of Sharm el Sheikh.
NWFE is a national integrated program with a regional and international approach aiming 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” program 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.
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