This week, the Egyptian Ministry of International Co-operation participated in an introductory workshop on the European Fund for Sustainable Development (EFSD) with the participation of over 100 representatives from ministries, government entities and the private sector.
Minister of International Co-operation Rania al-Mashat was present at the signing agreement for $150 million development agreement between the International Finance Corporation (IFC), Elsewedy Electric and the ministry in order to expand company operations, sustainable manufacturing and increase access to renewable energy across several countries in Africa.
This comes in addition to the launch of a programme to support entrepreneurship in addressing climate change by the United States Agency for International Development (USAID).
In co-operation with the European Union (EU) mission in Egypt, the Ministry of International Co-operation had organised an introductory event for the launch of the European Fund for Sustainable Development (EFSD).
The EFSD will be the basis for new mechanisms in the partnership between Egypt and the EU.
In line with the national 2030 agenda, representatives from government ministries, the Micro-, Small- and Medium Enterprises Development Agency (MSMEDA), Urban Development Fund, Suez Canal Economic Zone (SCZONE), General Authority for Investment and Free Zones (GAFI), Industrial Development Authority, the Central Bank of Egypt (CBE), National Bank of Egypt, Banque du Caire, ALEX Bank, QNB Bank, Agricultural Bank of Egypt, and several companies: Orascom Group, Hassan Allam, Rowad, Metito, Arab Contractors, Credit Guarantee Company, and the Confederation of Egyptian-European Business Associations attended the workshop.
The Ministry of International Co-operation and USAID launched a programme to support entrepreneurship to curb the effects of climate change as part of the Youth Entrepreneurs Network (YEN).
The programme supports entrepreneurs in training, incubation programmes and accelerators while giving opportunities for outstanding projects to be presented at COP27.
Climate action is a top priority at national and global levels and the participation of youth with innovative ideas can positively impact the approach to climate action, through adaptation and mitigation, the minister said.
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