Japan’s JICA hails Egyptian economy’s resilience in the face of crises

CAIRO – 29 August 2022: Director General of Middle East and Europe Department of Japan International Cooperation Agency (JICA) Hideki Matsunaga has hailed the resilience of the Egyptian economy in the face of crises.

In a meeting with Egyptian Minister of International Cooperation Rania El-Mashat on Sunday, Matsunaga affirmed the Japanese side’s keenness to develop relations with Egypt and participate in Egypt’s NWFE program.

NWFE program is a mechanism to promote the implementation of green development projects in the vital sectors of water, food and energy.

Mashat said that the portfolio of development cooperation with Egypt’s bilateral and multilateral partners constitutes around 23 percent of Egypt's external finance, exceeding $26 billion.

She pointed out that funds provided by development partners for the private sector amounted to around $4.7 billion over the past two years or 23% of the total financial portfolio.

Under the portfolio, 372 projects are implemented in various development fields, the minister said.

Mashat voiced Egypt's keenness on promoting relations with international partners to support development efforts in various fields.

The meeting witnessed discussions on many important files within the framework of the vital cooperation between the Egyptian government and JICA as well as preparations for the UN Climate Change Conference (COP27) in Sharm El-Sheikh city next November.

Egypt is preparing to host COP27 next November in coordination with international partners and has been keen to build on the success of Glasgow summit (COP26) and turn climate pledges into actions.