CAIRO: A joint statement titled ‘Country Platforms for Climate Action: MDB Statement of Common Understanding and Way Forward’ was issued by 12 multilateral development banks. In the statement, they affirmed that national platforms can serve as powerful mechanisms to support the development and implementation of countries’ strategies and nationally determined contributions (NDCs), national adaptation plans, and climate finance mobilization efforts. This can be achieved through a coordinated process led by the country and a partnership between all relevant stakeholders to build common understanding.
According to State Information Service Egypt, the multilateral development banks commended Egypt’s country platform for the Nexus of Water, Food and Energy “NWFE” program, which was launched in 2022 to strengthen green investment strategies. They highlighted that the platform focuses on the interconnections between water, food, and energy, which Egypt has identified as priority areas for climate and development. Th
e Egyptian platform contributes to both climate change mitigation and adaptation, supports resilience, and facilitates a just transition within the broader environmental goals across sectors such as energy, transportation, water, and agriculture.
The statement was issued by the Asian Development Bank (ADB), the African Development Bank (AfDB), the Asian Infrastructure Investment Bank (AIIB), the Council of Europe Development Bank (CEB), the European Investment Bank (EIB), the European Bank for Reconstruction and Development (EBRD), the Inter-American Development Bank (IDB), the IDB Invest, the Islamic Development Bank (IsDB), the New Development Bank (NDB), and the World Bank Group (WBG).
In H.E.’s comments, Minister of Planning, Economic Development, and International Cooperation, Rania Al-Mashat emphasized that after nearly three years of preparation and implementation, the “NWFE” program has become a focal point for many multilateral development banks and international institutions due to its ability to
create an innovative platform for policy coordination, based on the G20 principles, to translate climate strategies into actionable projects.
Al-Mashat welcomed the joint statement by multilateral development banks, noting that the Ministry of Planning, Economic Development, and International Cooperation continues to work with national stakeholders, development partners, and international institutions to mobilize more climate investments in mitigation, adaptation, and resilience.
Minister Al-Mashat also pointed out that Egypt has presented a distinct model from the Just Energy Transition Partnerships (JETP) platforms, creating a collaborative space between the government, international institutions, and the private sector to implement the 2050 National Climate Change Strategy and NDCs. The strong partnership with multilateral development banks has helped establish an innovative platform that integrates vital sectors supporting climate action.
Furthermore, the program’s design translates national visions an
d strategies into projects that attract green investments in adaptation and mitigation. H.E. affirmed that the program reflects Egypt’s commitment to moving from pledges to implementation.
Al-Mashat also highlighted that the Ministry, alongside coordinating efforts to implement the program, has been promoting its mechanisms in international forums since COP27, including major international institutions’ annual meetings and conferences organized by Egypt, such as the Egypt-ICF International Cooperation and Development Financing Forum. As a result, the platform has garnered global attention, with many developing and emerging countries, especially in Africa, seeking to learn from Egypt’s experience.
The multilateral development banks identified four main pillars that enhance the success of national platforms for climate action: political commitment and national ownership, identifying investment needs, mobilizing financing from both public and private sectors, and ensuring transparency and measurable progress.
They reaffirmed their commitment to continuing to support countries in developing and implementing national climate action platforms, adopting a multi-sectoral approach that aligns with national development priorities and responds to country needs.
The banks also expressed their ongoing collaboration with partners in development and implementation, such as the public-private partnership framework, in the continuous evolution of the JETP approach. Additionally, they will work with climate and environmental funds to expedite access to required finance, enabling the mobilization of additional funding needed to achieve the green transformation.
The NWFE Egypt’s Country Platform was launched as a national program representing an effective regional model and an approach for development financing to address issues of adaptation, mitigation, and resilience. Egypt has developed a comprehensive national climate strategy with key goals through 2050 and a set of priority projects by 2030. Nine projects in the fields of
water, food, and energy have been selected, with an estimated investment of around $14.7 billion. In partnership with the European Bank for Reconstruction and Development (EBRD), the African Development Bank (AFDB), and the International Fund for Agricultural Development (IFAD), the Ministry is working to mobilize innovative financing mechanisms, including debt-for-climate swaps, grants, and concessional financing for the private sector to implement these projects.