CAIRO - 19 November 2023: Minister Rania Al-Mashat announced Sunday the outcomes of the Nexus for Water, Food, and Energy (NWFE) platform during its inaugural year.
This came during a roundtable included the Egyptian government, representatives from multilateral development banks, financial institutions, UN agencies, bilateral partners, and the private sector to discuss the progress made within Egypt's Country Platform for the Nexus of Water, Food and Energy (NWFE) program, which was launched in July 2022. The roundtable included the launch of the first NWFE Program Report Titled “A Year of Implementation”.
Regarding the energy pillars, the minister stated that the project focused on three key components, including shutting down 5 GWs of inefficient power generation capacity using oil and gas, installing a new capacity of 10 GWs of renewable energy by attracting private sector investments, and supporting network investments.
Al-Mashat added that projects in collaboration with the EBRD and other partners included identifying two stations as part of the plan to close 5 GWs of thermal stations and securing grants worth $40 million.
She added that agreements for 3.7 GWs of renewable energy out of 10 GWs were signed with the private sector, supported by facilities totaling $2 billion.
According to the minister's speech, investments to reinforce the national grid were identified, totaling €314 million through innovative financing mechanisms.
To meet renewable energy goals, a debt swap agreement worth €54 million was signed to support network strengthening, she announced.
"Bilateral and multilateral cooperation occurred in the field of green hydrogen, leading to soft financing of $80 million from the EBRD for the first green hydrogen production facility in Africa," she said.
In the food pillar, the NWFE program aimed to find an innovative financing framework for agriculture and irrigation projects, stimulating private sector participation. Efforts included enhancing connectivity, determining project scopes, and utilizing technical support from development partners, resulting in the completion of projects such as Climate Resilient Agri-Food Transformation (CRAFT) and Climate Resilient on Farm Water in the Nile Valley (CROWN).
The water pillar focused on two projects: Water Desalination Using Renewable Energy and Scaling-up Solar Pumping for Irrigation. The AfDB provided advisory services, technical and financial support, and grants for feasibility studies.
For the sustainable transport pillar, the Ministry of Transport identified priority projects in coordination with the EIB and other partners.
The minister announced that a national committee, led by the Ministry of International Cooperation, was formed to coordinate national efforts with development partners for funding and investments.
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