Latest news with #NexusofWater
Egypt Today
5 days ago
- Business
- Egypt Today
Egypt, Germany Advance Green Energy Ties with €21 Million Debt Swap Deal
CAIRO – 26 May 2025: Egypt has signed a new €21 million debt swap agreement with Germany, further strengthening their long-standing development cooperation. The agreement brings together the Central Bank of Egypt, the Ministry of Electricity and Renewable Energy, the Egyptian Electricity Holding Company, and Germany's KfW Development Bank. This funding will help bolster Egypt's renewable and sustainable energy infrastructure, supporting efforts to enhance energy security and transition to cleaner sources. With this latest deal, the total value of debt swap tranches executed between the two countries now stands at approximately €297 million—equivalent to around EGP 16.8 billion. Minister of Planning, Economic Development, and International Cooperation, Dr. Rania Al-Mashat, stressed the significance of the agreement, noting it extends a development partnership that began in 2011 and has since delivered numerous impactful projects. The agreement aligns with Germany's €250 million pledge at COP27 to support Egypt's NWFE (Nexus of Water, Food, and Energy) program, including €104 million allocated through debt swaps. One of the program's milestones came in 2023 with a €54 million agreement to expand Egypt's electricity transmission network and connect two major Red Sea wind farms—Noes and Amunet, with a combined capacity of 500 MW—to the national grid. A second tranche under the NWFE platform, valued at €50 million, is currently in the works. The Egypt-Germany debt swap program is governed by a structured framework that ensures effective implementation and optimal use of funds. The Ministry of Planning plays a leading role in coordinating project selection, conducting negotiations with KfW, and managing the technical and financial components in collaboration with national stakeholders.
Daily News Egypt
13-05-2025
- Business
- Daily News Egypt
Egypt's Al-Mashat meets AfDB President, focus on private sector, continental integration
Egypt's Minister of Planning, Economic Development and InternationalCooperation, Rania Al-Mashat, met with African Development Bank (AfDB) Group President Akinwumi Adesina during his visit to Egypt to discuss strengthening their strategic relationship and supporting sustainable development. Al-Mashat expressed gratitude for Adesina's support of the partnership over the past decade and emphasised Egypt's commitment to empowering the private sector and fostering continental integration through its collaboration with the AfDB. 'Our partnership with the African Development Bank is strong and focused on empowering the private sector and supporting economic development efforts,' Dr. Al-Mashat stated. 'We look forward to expanding financial tools available to both local and foreign private sector players in Egypt.' The meeting, attended by AfDB officials including Special Envoy Ambassador Jalel Trabelsi, Regional Director General Mohamed El Azizi, and Country Manager Abdourahmane Diaw, highlighted Egypt's appreciation for the bank's role. Al-Mashat noted President Abdel Fattah Al-Sisi's recent meeting with Adesina, where President Al-Sisi affirmed the AfDB's vital role in regional integration and enhancing Africa's global competitiveness. Al-Mashat commended the AfDB's partnership in the water pillar of Egypt's 'NWFE' (Nexus of Water, Food and Energy) programme, where the bank mobilised finance for projects including renewable energy-powered desalination. She also noted the AfDB's $345m guarantee in 2023 for Egypt's first sustainable Panda bonds issue, worth 3.5bn Chinese Yuan (approx. $478m), which helps diversify financing sources. The minister outlined her ministry's efforts in preparing a 'National Narrative for Economic Development' to stimulate sustainable growth and maximise resources, and highlighted the role of the Ministerial Group for Entrepreneurship in supporting Egypt's business environment and the AfDB's active participation in this sector. Adesina praised Egypt's relationship with the bank and President Al-Sisi's leadership in advancing Africa's development. He expressed admiration for Egypt's New Administrative Capital, calling it a 'significant leap in world-class infrastructure.' He highlighted the developed partnership since 1974, stating, 'We have implemented ambitious financing operations in Egypt, especially in the energy sector and others, in light of the reforms undertaken by the state, which encourages foreign direct investment. I always cite Egypt as an example of its ability to implement these reforms that open the door for private sector participation, to launch pioneering project models such as the 'Benban' solar power complex, multiple wind energy projects, as well as water desalination and treatment projects.' The meeting concluded with the signing of a financing agreement for the fourth phase of the Abu Rawash wastewater treatment plant. This phase aims to increase the plant's treatment capacity from 1.6m cubic metres per day to 2.0m cubic metres per day, benefiting the 8.6m residents of Giza Governorate and an additional 2m people through improved health infrastructure, public health, environmental quality, and new opportunities in agriculture and job creation. The AfDB Group began operations in Egypt in 1974. Its total sovereign cooperation portfolio has reached over $7.79bn through 128 operations, while the non-sovereign portfolio exceeds $1.1bn in 14 private sector operations.
Zawya
05-05-2025
- Business
- Zawya
Green Egypt: Strategic pivot to renewables, hydrogen, and ESG post-COP27
Egypt's energy sector is undergoing significant change, fueled by ambitious national plans and strategic partnerships with global entities. The country is well positioned to balance the need for energy security with its commitment to achieve sustainable development and address climate change. Egypt is demonstrating its potential to achieve low carbon development pathways through initiatives such as Nexus of Water, Food, and Energy (NWFE) Program, and the National Climate Change Strategy (NCCS) 2050, as well as the announcement of the regulated voluntary carbon market (Africarbonex), and gazetted regulatory standards for mandatory Environmental, Social, and Governance (ESG) reporting. Egypt's strategic geopolitical location and abundant renewable resources position the country as a potential regional energy hub. The focus on green hydrogen production as well as proactive approaches to capitalize on the EU's Carbon Border Adjustment Mechanism (CBAM), demonstrates the country's progressive approach to energy transition. The CBAM, starting January 2026, will implement a tax on the greenhouse gas (GHG) – mainly carbon dioxide – emitted during the production of carbon intensive goods such as steel, cement, fertilizers, aluminum, electricity and hydrogen that are entering the EU. Nonetheless, challenges remain. Financial constraints, regulatory provisions, and infrastructural deficiencies continue to hinder the expedited rollout of renewable energy projects. Addressing these challenges will require strategic policy reforms and policy investments to ensure appropriate financial instruments and strengthened public-private cooperation.
Zawya
09-04-2025
- Business
- Zawya
Egypt, AFD sign executive agreement for Rubeiki–Belbeis railway project
Egypt - During the official visit of French President Emmanuel Macron to Egypt, Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, Kamel Al-Wazir, and Minister of Planning, Economic Development, and International Cooperation, Rania Al-Mashat, witnessed the signing of an executive agreement for a €70m credit facility between Egypt and the French Development Agency (AFD). The agreement supports the development of the Rubeiki–10th of Ramadan–Belbeis railway project. The total cost of the project stands at €215m, with €105m financed externally—€70m from AFD and the remainder from the European Bank for Reconstruction and Development (EBRD)—and a local component of approximately €110m. Spanning 63.5 kilometers, the railway will link Rubeiki Station to Belbeis through the industrial zones and dry port in 10th of Ramadan City. The route will include seven key stations: Rubeiki, Industrial Zone 1, Industrial Zone 2, Kilometer 14, the LRT interchange station, the Dry Port, and Belbeis. The project comprises two major segments: an 18.5-kilometer link from the Cairo–Rubeiki–Suez line to the dry port and logistics zone in 10th of Ramadan City, and a 45-kilometer extension connecting the logistics hub to the Banha–Zagazig–Ismailia–Port Said line at Belbeis Station. Construction is being carried out by Egyptian firms under local consultancy, with progress reported at 80% for bridges and 65% for viaducts. Al-Wazir underscored the railway's critical role in integrating Egypt's logistics ecosystem, connecting seaports—including Sokhna, Adabiya, Port Said, Damietta, Alexandria, and Dekheila—with the 10th of Ramadan City, one of the region's largest industrial zones. The city currently hosts over 2,996 factories, with total investments of EGP 84bn and an annual production value of EGP 162bn, providing 500,000 jobs. An additional 1,028 factories are under development, with projected investments of EGP 3bn, expected to generate EGP 8bn in annual output and create 87,000 jobs. Designed to support both freight and passenger services, the new railway will facilitate smoother worker commutes—especially from Belbeis to the 10th of Ramadan City—while reducing road congestion, emissions, and wear. It also forms a key part of Egypt's sustainable transport agenda under the NWFE+ (Nexus of Water, Food, and Energy Plus) initiative, supported by AFD, EBRD, and the European Investment Bank (EIB). On the sidelines of the agreement, Minister Al-Wazir met with French Minister of Economy, Finance, Industrial and Digital Sovereignty, Éric Lombard, to discuss expanded cooperation in the transport and industrial sectors. Al-Wazir expressed Egypt's strong interest in working with France to localize strategic industries such as solar and wind energy, battery storage, and electrical components, citing existing collaborations with firms like Schneider Electric. He also outlined plans to manufacture water pumps, desalination equipment, leather goods, garments, and food products domestically, in line with Egypt's strategy to meet local demand, boost exports, and position itself as a regional manufacturing and export hub. In the transport sector, Al-Wazir highlighted Egypt's ongoing port development efforts to transform the country into a regional center for logistics and transit trade. He pointed to active collaborations with French shipping company CMA CGM, including the management of the Tahya Misr multipurpose terminal at Alexandria Port and participation in operations at Sokhna Port. He further emphasized the significance of strengthening Egypt's railway sector through partnerships with major French companies such as Alstom, Thales, Colas, and Systra. Among the discussed projects is a proposed 350-kilometer railway connecting Taba to Al-Arish ports, part of a broader regional logistics corridor. This project could be executed under a French-Egyptian partnership model, with Egyptian firms handling civil works while French companies provide rolling stock and signaling systems. French Minister Éric Lombard noted that ongoing talks between Egypt's National Authority for Tunnels and Alstom include potential management, operation, and maintenance of the country's first monorail system, a significant advancement in Egypt's public transportation infrastructure. Lombard emphasized the need to build on successful experiences in maritime and railway collaboration, such as the Sixth Metro Line and CMA CGM's operations in Egypt. He also noted a growing interest among French firms in investing in Egypt's renewable energy and transport infrastructure sectors, expressing optimism that Macron's visit would pave the way for deeper economic and industrial cooperation.
Daily News Egypt
08-04-2025
- Business
- Daily News Egypt
Egypt, AFD sign €70m executive agreement for Rubeiki–Belbeis railway project
During the official visit of French President Emmanuel Macron to Egypt, Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, Kamel Al-Wazir, and Minister of Planning, Economic Development, and International Cooperation, Rania Al-Mashat, witnessed the signing of an executive agreement for a €70m credit facility between Egypt and the French Development Agency (AFD). The agreement supports the development of the Rubeiki–10th of Ramadan–Belbeis railway project. The total cost of the project stands at €215m, with €105m financed externally—€70m from AFD and the remainder from the European Bank for Reconstruction and Development (EBRD)—and a local component of approximately €110m. Spanning 63.5 kilometers, the railway will link Rubeiki Station to Belbeis through the industrial zones and dry port in 10th of Ramadan City. The route will include seven key stations: Rubeiki, Industrial Zone 1, Industrial Zone 2, Kilometer 14, the LRT interchange station, the Dry Port, and Belbeis. The project comprises two major segments: an 18.5-kilometer link from the Cairo–Rubeiki–Suez line to the dry port and logistics zone in 10th of Ramadan City, and a 45-kilometer extension connecting the logistics hub to the Banha–Zagazig–Ismailia–Port Said line at Belbeis Station. Construction is being carried out by Egyptian firms under local consultancy, with progress reported at 80% for bridges and 65% for viaducts. Al-Wazir underscored the railway's critical role in integrating Egypt's logistics ecosystem, connecting seaports—including Sokhna, Adabiya, Port Said, Damietta, Alexandria, and Dekheila—with the 10th of Ramadan City, one of the region's largest industrial zones. The city currently hosts over 2,996 factories, with total investments of EGP 84bn and an annual production value of EGP 162bn, providing 500,000 jobs. An additional 1,028 factories are under development, with projected investments of EGP 3bn, expected to generate EGP 8bn in annual output and create 87,000 jobs. Designed to support both freight and passenger services, the new railway will facilitate smoother worker commutes—especially from Belbeis to the 10th of Ramadan City—while reducing road congestion, emissions, and wear. It also forms a key part of Egypt's sustainable transport agenda under the NWFE+ (Nexus of Water, Food, and Energy Plus) initiative, supported by AFD, EBRD, and the European Investment Bank (EIB). On the sidelines of the agreement, Minister Al-Wazir met with French Minister of Economy, Finance, Industrial and Digital Sovereignty, Éric Lombard, to discuss expanded cooperation in the transport and industrial sectors. Al-Wazir expressed Egypt's strong interest in working with France to localize strategic industries such as solar and wind energy, battery storage, and electrical components, citing existing collaborations with firms like Schneider Electric. He also outlined plans to manufacture water pumps, desalination equipment, leather goods, garments, and food products domestically, in line with Egypt's strategy to meet local demand, boost exports, and position itself as a regional manufacturing and export hub. In the transport sector, Al-Wazir highlighted Egypt's ongoing port development efforts to transform the country into a regional center for logistics and transit trade. He pointed to active collaborations with French shipping company CMA CGM, including the management of the Tahya Misr multipurpose terminal at Alexandria Port and participation in operations at Sokhna Port. He further emphasized the significance of strengthening Egypt's railway sector through partnerships with major French companies such as Alstom, Thales, Colas, and Systra. Among the discussed projects is a proposed 350-kilometer railway connecting Taba to Al-Arish ports, part of a broader regional logistics corridor. This project could be executed under a French-Egyptian partnership model, with Egyptian firms handling civil works while French companies provide rolling stock and signaling systems. French Minister Éric Lombard noted that ongoing talks between Egypt's National Authority for Tunnels and Alstom include potential management, operation, and maintenance of the country's first monorail system, a significant advancement in Egypt's public transportation infrastructure. Lombard emphasized the need to build on successful experiences in maritime and railway collaboration, such as the Sixth Metro Line and CMA CGM's operations in Egypt. He also noted a growing interest among French firms in investing in Egypt's renewable energy and transport infrastructure sectors, expressing optimism that Macron's visit would pave the way for deeper economic and industrial cooperation.
