International Cooperation Minister Rania el Mashat called on world governments, international institutions, development partners, the private sector and non-profitable organizations to jointly cooperate in advancing climate action and shifting to green economy.

Mashat’s call came during her meeting on Thursday 6/10/2022 with Norway’s Ambassador in Cairo Hilde Klemetsdal, in the presence of officials from global Norwegian renewable energy producer Scatec to discuss strengthening bilateral partnerships within the “NWFE Program”, which covers a list of green government projects in the sectors of energy, food and water.

The International Cooperation Minister said that the Egyptian State works as part of its development vision and green transition strategies to foster cooperation with development partners to push forward innovative financing mechanisms, with a view to creating constructive partnerships between the relevant parties and expanding the scope of climate finance for climate change mitigation and adaptation projects.

Mashat and Scatec representatives reviewed the role of international partnerships in enhancing the private sector’s participation in the efforts to achieve development and shift to green economy.

The two sides also mulled the existing partnerships between Scatec and international financial institutions to invest in renewable energy projects in Egypt, as well as injecting investments into green transition projects.

The meeting tackled ways to promote development partnerships between Scatec and international financial institutions regarding Egypt’s preparations for hosting the 2022 UN climate conference, COP27, which will be held in Sharm El Sheikh next month.

In this regard, the two parties probed the international partnerships’ part in encouraging the private sector and opening up horizons for innovative development finance.

Mashat probed with SCATEC officials the projects executed by the Norwegian company in the industry of green hydrogen.

Source: State Information Service Egypt