Al-Sisi reviews COP27 outcomes in terms of green transformation finance

Al-Sisi reviews COP27 outcomes in terms of green transformation finance

Egypt’s President Abdel Fattah Al-Sisi met on Monday with Prime Minister Mostafa Madbouly and Minister of International Cooperation Rania Al-Mashat to discuss the results of the Sham El-Sheikh climate summit COP27, in terms of international funds for green transformation under the Nexus on Water, Food and Energy (NWFE) programme.

The Minister of International Cooperation confirmed that the NWFE programme received great support and praise from international partners during the climate summit being a pioneering Egyptian model that integrates development efforts and the climate action agenda by mobilizing diversified funding for green development projects within one national programme.

During the meeting, Al-Sisi directed the optimal use of those development funds for the improvement of the life conditions of citizens, especially in villages, in integration with the relevant presidential initiatives, especially in the irrigation and agricultural sectors, in order to support farmers, increase crop productivity, and diversify agricultural crops.

Moreover, Al-Mashat said that a total of $10.3bn in financing packages for government sectors were offered by multiple development partners, which aim to implement a number of diverse national projects in water, food, energy, and transport sectors.

With regard to the axes of water and food, the Minister of International Cooperation stated that the new funds will