Co-operation with Japanese private sector in water, food and energy projects

Egyptian Minister of International Co-operation Rania al-Mashat has held talks with Global President and Head of the Environment and Infrastructure Finance Group at the Japan Bank for International Co-operation (JBIC) Uchida Makoto, on the sidelines of the visit by the Japanese Prime Minister Fumo Kishida to Egypt.

Discussions covered the role of the Japanese private sector in implementing the Nouwfi programme for financing and investing in water, food and energy projects.

Talks also dealt with the mechanisms to implement the memorandum of understanding on the partnership for a strategy of financial and economic co-operation, signed during the premier’s visit, in addition to efforts to bolster the role of Japanese private sector companies to support development, climate action and carrying out infrastructure projects here.

The minister said the agreement elevate bilateral ties to the level of strategic partnership by boosting co-operation in various fields, a ministry press released said.

The Nouwfi programme, was launched during COP27 conference in Sharm last year as a model for national platforms to incentivise eco-friendly projects within the National Climate Change Strategy 2050 and Egypt’s Vision 2030, the minister added.

The government is looking forward to participation by Japan’s private sector in carrying out the projects of the programme, al-Mashat said.

Al-Mashat also hailed Japan’s role in supporting projects in Egypt and welcomed efforts to boost cooperation with the Japanese side as a key partner of development in Egypt.

For his part, the JBIC senior official described Egypt as a “key investment destination for Japan and a gateway to Africa”.

Egypt’s hosting of COP27 has reflected positively on the interests of Japanese companies in supporting energy projects in Egypt, Makoto said, adding that the bank is interested in backing the renewable energy sector in Egypt as part of the country’s strategy for climate change 2050.

He also said that the JBIC’s investments in Egypt exceed $1.26 billion in the private sector, to carry out several projects in various fields, focusing on renewable energy.