- The Ministry of International Cooperation of Egypt plans to sign contracts for 9 projects during the forthcoming COP27 Climate Summit to be held from November 6th to 18 in Sharm El-Sheikh. The estimated investment for the proposed projects is about $15 billion.
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The Ministry of International Cooperation of Egypt plans to sign contracts for 9 projects during the forthcoming COP27 Climate Summit to be held from November 6th to 18 in Sharm El-Sheikh. The estimated investment for the proposed projects is about $15 billion.
The sectors covered under the projects are the water, food, and energy (NWFE) Program, according to a statement from the Ministry of International Cooperation. The projects represent the priorities of the government with one main energy project, five projects in food security and agriculture and 3 projects in irrigation and water.
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For the smooth implementation of the projects, for each of the NWFE Program’s access (Water, Food and Energy), a development partner has been selected as a coordinator. The Energy sector will be coordinated by the European Bank for Reconstruction and Development (EBRD), the food sector by the International Fund for Agricultural Development (IFAD) and water by the African Development Bank (AfDB). The ongoing portfolio of development cooperation in climate finance includes several projects such as the Bahr El Baqar Water Treatment Plant, Al Mahsama Water Reclamation Plant, and wind energy projects in the Gulf of Suez, among other fields.
