H.E. Minister of Planning, Economic Development, and International Cooperation Inaugurates Workshop on “Renewable & Sustainable Renewable Energy Development in the Gulf of Suez”
12 November 2024
H.E. Dr. Rania Al-Mashat: The International Finance Corporation plays
a significant role in supporting the private sector to increase investments in
renewable energy.
A comprehensive study is being formulated to ensure a balance between
our developmental needs and environmental commitments.
The integration of planning and international cooperation enables us
to adopt a more inclusive approach to achieving economic development.
H.E. Dr. Rania Al-Mashat, Minister of Planning, Economic Development,
and International Cooperation and Governor of Egypt at the World Bank,
participated in a workshop titled "Nurturing Nature, Driving Development:
Renewable & Sustainable Renewable Energy Development in the Gulf of
Suez." This workshop was organized in collaboration with the Ministry and
the International Finance Corporation (IFC), with the presence of Cheick-Oumar
Sylla, IFC Regional Director for North Africa and the Horn of Africa, as well
as representatives from the World Bank, Bird Life Organization, the European
Bank for Reconstruction and Development (EBRD), the Multilateral Investment
Guarantee Agency (MIGA), the Asian Infrastructure Investment Bank (AIIB), the
UK’s Development Finance Institution, and the Islamic Corporation for the
Development of the Private Sector.
In her opening speech, H.E. Dr. Rania Al-Mashat emphasized the strong
partnership between the Ministry and the IFC, which is dedicated to supporting
the private sector in increasing investments across various developmental
fields, including renewable energy. She highlighted that the workshop aimed to
discuss and align perspectives on the urgent need to review and update
environmental and social impact assessments, particularly to measure the
cumulative mortality rates of birds due to current and future wind energy
projects in the Gulf of Suez region, which is a global migration route for
birds from Europe to Africa.
H.E. Dr. Al-Mashat stressed the importance of active participation in
promoting sustainable development in Egypt and expanding the country's
competitive capabilities in renewable energy production while also preserving
its rich biodiversity, especially the unique phenomenon of annual bird
migrations through the Rift Valley/Red Sea and Gulf of Suez. She clarified that
today's workshop is not just a discussion on environmental issues but also a
crucial step towards formulating a comprehensive study that guarantees
sustainable development by balancing our developmental needs with our
environmental obligations.
Dr. Al-Mashat explained that with the rapid expansion of wind energy and
other projects in the Gulf of Suez region, it has become essential to update
our current understanding of the risks of bird collisions and their interaction
with this growing infrastructure. She pointed out that previous assessments are
no longer sufficient to keep pace with the developments and emerging risks,
thus requiring an update in the strategic assessments to evaluate the
cumulative impacts and ensure the protection of migratory birds and the
long-term sustainability of their populations.
The Minister outlined the role of the Ministry of Planning and Economic
Development and International Cooperation in achieving comprehensive and
sustainable development aligned with Egypt's national goals and international
commitments. She noted the merger between the Ministry of Planning and the
Ministry of International Cooperation, which took place last July, allowing for
a more integrated approach to planning. This merger has expanded the Ministry’s
role beyond economic goals to include the formulation of inclusive strategies
aimed at achieving sustainable development based on innovation, social equity,
and environmental protection.
H.E. Dr. Al-Mashat further added, "Through this merger, the
Ministry is now able to serve as a bridge connecting various sectors and
stakeholders, from the government and private sector to international partners,
fostering collaboration and integration in implementing projects with high
environmental and social standards. Our role is no longer limited to planning
for growth, but it also involves ensuring the development of strategies that
promote inclusive and sustainable development, which meets the aspirations of
the Egyptian people while preserving our natural heritage."
In her concluding remarks, H.E. Dr. Al-Mashat confirmed that the latest
practices in mitigating and monitoring environmental impacts would be reviewed
to ensure that Egypt’s progress in renewable energy continues in a responsible
and sustainable manner. She emphasized that developmental financial
institutions, international financial organizations, and national entities will
play a central role in providing the financial and technical support needed to
ensure the inclusivity and sustainability of environmental and social impact
assessments and cumulative impact evaluations.
On his part, Cheick-Oumar Sylla, IFC Regional Director for North Africa
and the Horn of Africa, stated: "Sustainable development can only be
achieved by pursuing it responsibly. Therefore, we are collaborating with the
Egyptian government and development partners to achieve a shared goal of
ensuring environmental sustainability in the implementation of renewable energy
projects, aligning our environmental commitments with efforts to reduce carbon
emissions."