Egypt’s President Abdel Fattah El Sisi called for the optimal use of development funds that were mobilised in all axes for the benefit of development and for improving the conditions of citizens, especially in villages, noting that this should be integrated with the relevant presidential initiatives, especially with regard to the irrigation and agriculture sectors, in order to support farmers, boost crop productivity and diversify agricultural crops, and then increase the economic return and income.
The president’s remarks came as he met on Monday with Prime Minister Moustafa Madbouli and Minister of International Co-operation Rania al-Mashat, Presidency Spokesman Ambassador Bassam Radi said.
During the meeting, the President reviewed the results of the COP27 global climate summit in mobilising development funds for national projects for green transformation within the framework of the Egypt’s Nexus on Water, Food and Energy (NWFE) programme.
The president also directed the government to expedite the implementation of the projects under cooperation with development partners and the private sector, which were contracted for during Sharm el-Sheikh summit, and to form specialised technical work teams in each concerned ministry to provide a fast track to finalising all procedures and approvals related to those projects.
The minister of International Co-operation confirmed that the NWFE platform received great support and praise from international partners during the climate summit as an Egyptian pioneering model, which integrates development efforts and the climate action agenda through mobilising diversified funding for green development projects within the framework of a single national programme.
Minister al-Mashat reviewed the results of COP27, which was held in Sharm el-Sheikh, in terms of mobilising concessional development funds for NWFEi, where the funds amounted to 10.3 billion dollars through agreements and financing packages for government sectors from development partners.
With regard to the water and food axes, the minister explained that the new funds would help in the expansion of irrigation projects using clean energy to reduce harmful emissions and promote sustainable agricultural activities, establish seawater desalination plants using clean energy and upgrade irrigation systems in agricultural lands, which will reduce wastewater and help increase crop productivity and reclaim more land, serving more than 50 million citizens in the Nile Valley and Delta.
As for the energy axis, the funds target the implementation of plants for wind energy, clean energy and green hydrogen, in addition to reducing dependence on traditional fossil fuels.
Al-Mashat also presented the results of the economic conference regarding the role of international cooperation and development financing in stimulating the participation of the private sector.
In another meeting yesterday with Prime Minister Madbouli and Minister of Planning Hala el-Saeed, President Sisi followed up on the economic indicators in light of the continuing repercussions of the global situation.
During the meeting, the president directed the government to proceed with conducting specialised studies related to the global economic situation and its repercussions on the Egyptian economy, especially with regard to the increasing global inflation rates and the rise in food and energy prices, in addition to the continued turbulence of global financial markets and international supply chains.
The step is aimed to maintain the positive results of successful efforts in the field of economic reforms over the past few years.
El-Saeed said that the Egyptian economy is expected to achieve a total growth of 5% by the end of the present fiscal years.
The president was also briefed on Egypt’s support to African countries to confront the repercussions of climate change, with the aim of improving the quality of life in the poorest countries in the continent based on the standards of sustainable development.
Discussion about this post