Dubai: The fruitful cooperation between Egypt and Japan has led to constructive and significant partnerships in many strategic areas contributing to promoting human capital investment, and infrastructure development to support inclusive and sustainable growth, Minister of Planning, Economic Development, and International Cooperation Rania el-Mashat said. Mashat made the remarks during a meeting on Friday 21/3/2025 with Chief Representative for the Middle East at the Japan Bank for International Cooperation (JBIC) Kenny Kitamura at the bank premises in Dubai, where they discussed how to boost joint cooperation in areas of sustainable development, international finance, and investments.
According to State Information Service Egypt, Mashat briefed the bank official on Egypt’s efforts towards green energy transition, which includes expanding renewable energy capacity through the NWFE program and promoting the national green hydrogen industry. Mashat said Japan is one of Egypt’s most important development partners from Asia, with a development cooperation portfolio that includes over 18 projects.
Highlighting the important role played by the Japanese bank in the Middle East region to support renewable energy projects and promote sustainable development in Egypt, Mashat applauded JBIC’s contribution to the Nexus of Water, Food and Energy (NWFE) Program, which aims to accelerate Egypt’s national climate agenda. She said the Egyptian government is keen on fostering cooperation with the bank to speed up the country’s energy transition and support green hydrogen projects, which contributes to achieving Egypt’s strategic goals in the clean energy industry, while promoting the government’s efforts to promote national industries.
Mashat said she is looking forward to exploring further prospects of cooperation with the Japanese bank and the Japan International Cooperation Agency (JICA), and bolstering partnerships with other development partners, to support the energy theme of the NWFE program and pursue more renewable energy projects. In August 2023, the Cabinet approved the establishment of the National Council for Green Hydrogen, demonstrating the state’s commitment to upscale green hydrogen production and drive sustainable social and economic development.
The council is responsible for the coordinated development of this industry with a view to unifying national efforts, luring investments, enhancing competitiveness in the global hydrogen market, and promoting investments in green hydrogen. Egypt has launched an ambitious plan to entrench local green hydrogen production, especially in the Suez Canal Economic Zone.
Source: State Information Service Egypt