President Sisi Reviews the Outcomes of the World Climate Summit COP27

CAIRO – 28 November 2022: President Abdel Fattah El-Sisi gave directives to leverage the development funding that has been mobilized in all areas for the sake of development and improving the living standards of the citizens, particularly in villages, in integration with the relevant presidential initiatives, particularly in the sectors of irrigation and agriculture.

President Sisi’s directives came during a meeting with Prime Minister, Dr. Moustafa Madbouly, and Minister of International Cooperation, Dr. Rania Al-Mashat, reviewing the outcomes of the World Climate Summit, COP27, in mobilizing development funding for national projects in the field of green transformation, under Novi national platform, said Spokesman for the Presidency Bassam Rady in a statement on Monday.

“This aims to support farmers, increase crop productivity and diversify agricultural crops, and hence increase economic return and income. This is in addition to disseminating advanced methods and state-of-the-art technology to adapt to climate change and leverage the water resources available,” Rady said.

The minister of international cooperation stressed that the Novi platform was greatly supported and commended by the international partners during the summit as an Egyptian pioneering model that integrates development efforts and the climate action agenda, by mobilizing diverse funding for green development projects under a single national program.

Dr. Al-Mashat reviewed the outcome of the World Climate Summit, COP27, which was held in Sharm El-Sheikh, with regard to the mobilization of concessional development funding for the benefit of the national platform for green projects Novi. The funding totaled around $10.3 billion through agreements and funding packages for government sectors from multilateral development partners and within the bilateral framework. Those aim to implement a number of national projects within the main axes of the Novi program, including water, food and energy, in addition to the transport sector.

With regard to the axes of water and food, the minister of international cooperation confirmed that the new funds will lead to the expansion of irrigation projects, by harnessing clean energy to reduce harmful emissions and promote sustainable agricultural activities, in addition to the establishment of sea water desalination plants using clean energy and the modernization of irrigation systems in agricultural lands. This will reduce water waste, help increase crop productivity and save water to reclaim more land, thus serving up to 50 million citizens in the Nile Valley and the Delta, who will benefit from food and water security projects to support them in countering the repercussions of climatic currents.

As to the energy axis, funding targets the implementation of wind, clean energy and green hydrogen plants. This in addition to reducing emissions and dependence on conventional fuel from stations.

The minister also briefed the President on the outcome of the Egyptian Economic Conference with regard to the role of international cooperation and development finance in stimulating the engagement of the private sector.

President El-Sisi gave directives to promptly implement cooperation projects with development partners and the private sector, which were contracted during the Sharm El-Sheikh summit. The President also stressed the need to establish specialized technical task teams in each relevant ministry so as to provide an accelerated path to finalize all procedures and approvals related to these projects.