How does the Ministry work with international institutions to attract more climate-related financing to support Egypt’s sustainable development goals?
Climate finance is a central pillar in the joint relations between the Arab Republic of Egypt and multilateral and bilateral development partners.
Transition to a green economy is a main pillar in both the National Program for Structural Reforms and national strategies — foremost among them Egypt’s Vision 2030, the Government Work Program and sectoral strategies such as the National Integrated and Sustainable Energy Strategy.
Therefore, development cooperation with international partners includes a significant component for climate finance. This has received increasing attention, especially since Egypt hosted the COP 27 Climate Conference in Sharm El-Sheikh, and launched many initiatives in the field of climate action and green transition — foremost among them the NWFE Country Platform Program (‘Nexus of Water, Food and Energy’) and the Sharm El-Sheikh Guidebook for Just Financing, a national contribution to international efforts aimed at entrenching the concept of just climate finance, to enable developing and emerging countries to access financing.
The Ministry also plays a leading role as it is responsible for preparing and following up on the implementation of the economic and social development plan, targeting an increase in the share of green projects in total public investments to reach 55% by the end of June 2026.
In addition, the Ministry is implementing the National Initiative for Smart Green Projects, which encourages local companies in the field of environmental sustainability and climate action. The Ministry also organised the international Climatech Run competition during COP 27 and COP 28, to encourage start-ups in Egypt and worldwide to innovate technological solutions in the field of climate action.
What progress has been achieved on the NWFE Platform (Water-Food-Energy Nexus)?
Since the program’s launch during COP 27, it has served as a model for national platforms aimed at encouraging climate investments through blended finance and other innovative financing tools such as grants and debt swaps.
It has worked to create constructive partnerships among various parties — foremost among them the EBRD, the main development partner for the energy pillar; the African Development Bank, the main development partner for the water pillar; the International Fund for Agricultural Development, the main development partner for the food pillar; and the European Investment Bank, the main development partner for the sustainable transport pillar.
The main development partner in each pillar coordinates to mobilise financing and development efforts, while there are also many other partners such as multilateral development banks, climate alliances and climate investment funds.
The Ministry of Planning, Economic Development and International Cooperation has ensured transparency in the program by issuing two progress reports in 2023 and 2024.
The Ministry has adopted an innovative approach and governance framework leveraging the comparative advantages of development partners in the three pillars — water, food, and energy — to maximise the benefits of public investments and mobilise concessional development financing, debt swap mechanisms, grants and private investments to implement the targeted projects.
As a result, the platform has succeeded in mobilising concessional financing worth $4bn over two and a half years, to implement renewable energy projects with a capacity of 4.2 gigawatts, supporting Egypt’s efforts in renewable energy and the green transition — from a total targeted capacity of 10 gigawatts by 2028 — to help meet the national target of reaching a 42% renewable energy share by 2030.
Work is also under way to finalise the technical and financial details for implementing water, food and sustainable transport projects. The program has received unprecedented international recognition, from the International Monetary Fund, the World Bank and climate alliances.
The closing statement issued by the 4th International Conference on Financing for Development in Seville cited the NWFE national platform as a model for the new generation of national platforms and innovative tools in reforming the global financial architecture.
Therefore, the Ministry is working to share Egypt’s experience with other developing countries through South-South cooperation mechanisms.
How does the Ministry balance short-term development needs with long-term sustainability goals?
The Ministry launched the National Narrative for Economic Development, which serves as a document and framework for the Egyptian economy, achieving integration between Egypt’s Vision 2030 and the Government Work Program for the period 2024–2027. The NNED also takes into account national strategies in the industrial development and foreign direct investment sectors.
In the same context, starting from the economic and social development plan for the upcoming fiscal year 2026/2027, the plan will be set within a three year medium-term framework at one time — along with the state’s general budget — in implementation of Public Planning Law No. 18 of 2022 and Unified Public Finance Law No. 6 of 2022.
The government is following an approach that relies increasingly on the private sector as a main partner in achieving development and leading sustainable growth efforts, through the governance of public investments and their allocation to sectors where the private sector cannot participate, as well as to prepare the investment climate and business environment.
How does the Ministry contribute to consolidating Egypt’s position as a regional power in the field of sustainable finance?
Even despite the decline in development financing in light of successive global economic developments, Egypt remains one of the middle income developing countries that has development financing programs of significant and diverse developmental impact.
The most notable feature is clarity and credibility in formulating, following up and implementing projects.
The Ministry supervises 55 joint committees between Egypt and various countries across Asia, Europe, Latin America and others. Through these committees, it works to advance joint cooperation, exchange experiences and strengthen South-South cooperation, to enhance economic and development cooperation between developing countries and emerging economies.