Latest news with #NWFE
Al-Ahram Weekly
3 days ago
- Business
- Al-Ahram Weekly
Hassan Allam, Schneider Electric launch sustainable farming project in Nile Delta - Markets & Companies
The initiative aims to boost rural livelihoods and promote climate-resilient farming by implementing smart infrastructure and renewable energy technologies. It aligns with Egypt's Vision 2030 and adopts the Nexus of Water-Food-Energy (NWFE) framework to address interconnected development challenges. At the heart of the project is a solar-powered, climate-controlled greenhouse expected to produce up to 20 tons of vegetables annually. Designed to enhance energy and water efficiency, the system will operate on Schneider Electric's EcoStruxure platform and reduce reliance on diesel-powered irrigation—a long-standing barrier to sustainable agriculture in the area. The project aims to mitigate the adverse effects of poor water quality and climate change, which have negatively impacted productivity in parts of the Delta. It also supports Egypt's Integrated Sustainable Energy Strategy 2035 and its updated Nationally Determined Contributions (NDCs), which aim to expand renewable energy use and reduce emissions in the electricity sector. Beyond agriculture, the initiative includes a community development component that prioritizes job creation—particularly for women and youth—and promotes long-term environmental and financial sustainability. The partnership was announced during Schneider Electric's Innovation Day: Buildings of the Future in Cairo, where experts and officials discussed the role of digital and green technologies in sustainable development. Home to roughly 12,000 residents, El-Nouras relies on the El-Salam Canal for irrigation. If successful, the model could be replicated in other rural communities facing similar environmental and economic challenges.
Daily News Egypt
4 days ago
- Business
- Daily News Egypt
Egypt, Germany to expand partnership with new €100m debt swap
Egypt and Germany are expanding their economic partnership with a focus on innovative financing and private sector investment, with a new €100m ($109m) tranche under a debt-for-development swap programme to be activated by mid-2026, Egypt's Planning and International Cooperation Minister said on Sunday. Speaking at a joint press conference, Minister of Planning, Economic Development, and International Cooperation Rania Al-Mashat said the visit of German Federal Minister for Economic Cooperation and Development, Reem Alabali-Radovan, sent a strong message of partnership at a time of significant global and regional sensitivity. Al-Mashat said the two countries enjoy a strategic partnership that has evolved into a comprehensive collaboration, with Germany being one of Egypt's largest European partners in development cooperation, trade, and investment. Around 1,600 German companies operate in Egypt with total investments exceeding €6 billion in sectors including the green transition and manufacturing. The trade volume between the two countries is approximately €6.8 billion. Al-Mashat highlighted several key areas of cooperation, including: DEBT-FOR-DEVELOPMENT SWAP: The total value of the Egypt-Germany debt swap programme is €340m, with the new €100m tranche to be activated in December 2025 and June 2026. The programme has funded projects in technical education, health, climate action, and water and sanitation. GREEN TRANSITION: Germany is a key supporter of the energy pillar of Egypt's 'NWFE' country platform, having allocated €258m in concessional financing, grants, and debt swaps to support the electricity network and the integration of renewable energy projects. Additionally, the German-financed PtX Development Fund provided €30m to Norway's Scatec for its green hydrogen project in the Suez Canal Economic Zone. FINANCIAL COOPERATION: A financial cooperation agreement signed in May 2025 includes a €118m funding package for technical education and the integration of renewable energy into the grid. Al-Mashat said a new round of intergovernmental negotiations will be held by the end of this year to agree on priorities for the coming period. The minister also noted that Egypt values Germany's efforts within the European Union to finalise a €5bn macroeconomic support mechanism and budget support for Egypt. Al-Mashat said her discussions with her German counterpart included increasing development financing for the private sector through German financial institutions and establishing a new platform, similar to NWFE, to mobilise international partnerships for industrial development. She also highlighted the effective partnership with the German Agency for International Cooperation (GIZ) in developing technical education to support national employment priorities. 'Egypt's economy is showing notable improvement in growth indicators, and we are working on enhancing macroeconomic stability to attract more foreign investment,' Al-Mashat said, adding that these efforts are part of a national plan to structurally transform the economy towards export-oriented sectors.
Daily News Egypt
17-07-2025
- Business
- Daily News Egypt
Egypt considers launching national platform to mobilise green financing for private-sector industrial transformation
Egypt's Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, Kamel Al-Wazir, has met with Minister of Planning and International Cooperation, Rania Al-Mashat, to coordinate efforts to prepare Egypt's industrial sector for the European Union's Carbon Border Adjustment Mechanism (CBAM) and advance green transformation. The meeting focused on ongoing cooperation for low-emission industry programmes, particularly the Green Sustainable Industries (GSI) initiative, and collaboration with the European Bank for Reconstruction and Development (EBRD) under the NWFE platform. Discussions also explored a proposal to establish a new national platform—modelled after NWFE—to mobilise concessional financing and international grants to support private-sector green industrial projects centred on decarbonisation, energy efficiency, and clean technologies. In addition, the ministers discussed opportunities for Egypt to benefit from the Green Climate Fund's (GCF) High Impact Programme for the Private Sector, a flagship initiative managed by the EBRD. The programme aims to help private-sector projects in developing countries reduce industrial emissions and accelerate the transition to a green economy through a mix of grants, concessional loans, and innovative financing instruments. The initiative aligns closely with Egypt's National Climate Change Strategy 2050 and its Nationally Determined Contributions (NDCs), while placing no direct financial burden on the state budget. It represents a key potential route to finance the decarbonisation of Egyptian factories and help them meet emerging global environmental standards. To advance these efforts, Al-Wazir directed the formation of a joint technical committee—including representatives from the Ministries of Industry and Transport—to coordinate directly with the Ministry of Planning and International Cooperation. This committee will oversee the implementation of priority projects, ensure alignment with international financing platforms, and enhance the readiness of Egypt's industrial sector for new environmental requirements. Al-Wazir also stressed the importance of coordinating with the Egyptian Ministry of Foreign Affairs and other national institutions to engage in voluntary carbon credit systems, supporting Egypt's shift to low-emission industry ahead of CBAM enforcement. He reaffirmed the government's commitment to helping factories transition to green production through partnerships with development partners and other ministries. For her part, Minister of Planning and Economic Development Rania Al-Mashat reviewed recent progress in Egypt's international partnerships supporting industrial development. She highlighted that the non-oil manufacturing sector has led GDP growth since the March 2024 economic reforms, posting growth rates of 7.1%, 17.7%, and 16.3% across the first three quarters of FY 2024/2025 and contributing 1.9% to GDP growth in Q3 alone. Al-Mashat emphasised the government's focus on strengthening the manufacturing sector to boost exports and expand tradable industries. The ministry is working closely with international development partners to secure technical support, grants, and concessional financing to reduce carbon emissions and accelerate industrial transformation. She noted the GSI programme, which provides approximately €271m (around EGP 16bn)—including EGP 1.2bn in grants—to promote pollution reduction, renewable energy use, and sustainable industrial practices. She also pointed to ongoing cooperation with the Green Climate Fund to access concessional finance for private-sector projects, reinforcing Egypt's role as a strategic green energy partner to the EU. Additionally, Al-Mashat highlighted Egypt's selection among seven countries to participate in the Climate Investment Funds' (CIF) Industrial Decarbonization Program, which offers nearly $1bn in concessional finance for the private industrial sector. Egypt is currently in discussions to determine the size of its share. Al-Mashat reaffirmed continued coordination with the Ministry of Industry to leverage international partnerships that empower private industry, cut carbon emissions, and boost export competitiveness—particularly in accessing European and global markets.
Egypt Independent
12-07-2025
- Business
- Egypt Independent
Planning min. lauds significant progress in Egypt-UK development coop.
Minister of Planning, Economic Development and International Cooperation Rania al-Mashat lauded the significant progress in development cooperation between Egypt and the UK. Al-Mashat made the remarks during her participation in a farewell ceremony for British Ambassador in Cairo Gareth Bayley, whose tenure in Egypt ended. The ceremony was attended by a large number of public figures, as well as representatives of the British Egyptian Business Association (BEBA). The minister highlighted the ambassador's effective role since 2021 in advancing Egyptian-British relations and enhancing partnerships between the two countries' public and private sectors. Regarding the remarkable boom in Egyptian-British development cooperation, Mashat said the UK has backed the launch of the Nexus of Water, Food and Energy (NWFE) Program and the launch of the Hub for Advisory, Finance and Investment for Enterprises (Hafiz) platform, which serves as a new financial and technical support platform for the private sector. The minister added that the UK contributed to diversifying innovative funding sources for the public and private sectors in Egypt, strengthening financing mechanisms for small and medium-sized enterprises, in addition to supporting startups in climate action. On his part, the British diplomat commended the strong and historical ties between Egypt and the UK, both at the governmental level and within the private sectors of both nations. He shed light on the projects supported by the UK in Egypt, including the 'NWFE' program, which acts as a tool for mobilizing climate investment and advancing the country's green transition efforts.
Al-Ahram Weekly
12-07-2025
- Business
- Al-Ahram Weekly
Banque Misr, EBRD sign Egypt's first $100 mln sustainability-linked loan - Economy
Egypt's Ministry of Planning, Economic Development, and International Cooperation announced on Thursday the signing of the country's first sustainability-linked loan agreement, valued at $100 million, between the European Bank for Reconstruction and Development (EBRD) and Banque Misr. The agreement was signed in the presence of the Minister of Planning and Egypt's Governor at the EBRD, Rania Al-Mashat; Banque Misr CEO Hisham Okasha; EBRD Managing Director for Financial Institutions Francis Malige; and EBRD Regional Director for the Southern and Eastern Mediterranean Mark Davis. 'This agreement aligns with our broader strategy to integrate sustainability into our financing framework,' stated Al-Mashat. 'We are committed to working with international partners to increase access to green finance and empower the private sector to contribute to sustainable development.' She noted that since 2020, Egypt has secured over $15.6 billion in concessional financing for the private sector, with more than 40 per cent directed toward financial institutions. The loan is part of Egypt's broader effort to expand access to international financing for local banks and businesses. The Ministry recently signed a cooperation protocol with the Federation of Egyptian Banks to strengthen financing tools through the Hafiz platform, which connects lenders with private sector projects seeking financial and technical support. The EBRD, which dedicates more than 80 percent of its global portfolio to the private sector, has directed over 28 percent of its operations in Egypt toward financial institutions—an approach Al-Mashat said reflects 'a deep understanding of local market needs and the banking sector's capabilities.' She also praised the efforts of the Central Bank of Egypt (CBE) and the Financial Regulatory Authority in fostering an enabling environment for innovation in financial products and services. Al-Mashat cited the success of Egypt's NWFE platform—its flagship climate-finance initiative—as an example of an integrated finance strategy. The platform, she said, has gained international recognition, most recently at the 4th International Conference on Financing for Development. Despite regional and global economic challenges, Egypt recorded 4.7 percent GDP growth in the third quarter of 2025. Private investments now account for more than 60 percent of total investment, according to the Ministry. The Ministry's new cooperation model with Egyptian banks aims to expand access to concessional financing, particularly for SMEs, by facilitating data sharing, streamlining application processes, and enhancing advisory support through digital platforms. 'This is not just about funding,' Al-Mashat said. 'It's about embedding sustainable finance into the national development fabric.' Follow us on: Facebook Instagram Whatsapp Short link:
