Dr. Rania Al-Mashat Meets CEO of the African Finance Corporation to Discuss Efforts to Mobilize Investments in Renewable Energy

During Her Participation in World Economic Forum, Davos 2025
 
Dr. Rania Al-Mashat Meets CEO of the African Finance Corporation to Discuss Efforts to Mobilize Investments in Renewable Energy

 

Al-Mashat: Egypt aims to become a regional hub for renewable energy investments

Agreement on projects with a capacity of 4.2 GW as part of the "NWFE" program, out of a total of 10 GW targeted for implementation by 2028

Strengthening South-South cooperation to exchange successful practices and experiences and transfer knowledge from the national platform of the "NWFE" program

H.E. Dr. Rania A.Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, and co-chair of the Global South Network for Mobilizing Investment for Clean Energy in Emerging Economies (MICEE), held a bilateral meeting with Mr. Samaila Zubairu, co-chair of the network and CEO of the African Finance Corporation (AFC), to discuss joint cooperation efforts, as well as follow up on developments since the launch of the MICEE network in emerging markets. This took place during her participation in the 2025 World Economic Forum in Davos.

 

The two sides discussed the progress of initiatives being implemented by the Clean Energy Investment Mobilization Network in the Global South, which aims to increase clean energy investments by more than seven times over the next decade. They also focused on activating a guide to successful investment practices in renewable energy, recently launched to highlight effective and replicable practices in clean energy investments.

 

H.E. Dr. Al-Mashat explained that the guide, which includes 100 case studies and practices from around the world, including four from Egypt, could contribute to encouraging clean energy investments and fostering innovative public-private partnerships to implement the solutions presented in the guide. This includes risk-reduction tools and financing mechanisms, which can enable the replication of these solutions in various targeted regions.

 

H.E. Minister Al-Mashat emphasized that the implementation of intensive regional initiatives is key to achieving the network's goals. These initiatives aim to identify the most appropriate solutions to accelerate clean energy investments while considering the unique circumstances of each region. The network also seeks to build strategic partnerships between the public and private sectors to ensure the effective implementation of these solutions.

 

H.E. Dr. Al-Mashat also highlighted Egypt's efforts in attracting significant investments into the renewable energy sector in particular, and the green transition more generally. She noted that the structural reforms implemented by Egypt since 2014 have contributed to encouraging both domestic and foreign investments in renewable energy.

 

Additionally, she touched on the ongoing development of the Country Platform for the "NWFE" program, which has successfully created constructive partnerships between government and private sector stakeholders, development partners, and international institutions. This has led to contracts for renewable energy projects with a total capacity of 4.2 GW since 2022, out of a target of 10 GW by 2028. The Ministry is also working to transfer this experience and exchange knowledge with developing countries, including Tanzania, to benefit from national platforms in advancing climate action.

 

H.E. Minister Al-Mashat added that this approach reflects Egypt's commitment to providing innovative and practical solutions to accelerate the transition to clean energy. She stressed that building strong partnerships is key to achieving sustainable development and ensuring a better future for all.

H.E. Dr. Al-Mashat also pointed to Egypt's active role in supporting the transition to clean energy, with the goal of making this network a central platform to unify international efforts and enhance public-private partnerships. The aim is to offer innovative solutions that contribute to accelerating clean energy investments, positively impacting emerging economies and developing countries.

 

The Minister also affirmed that the network represents a model for effective international cooperation, serving as a practical means to turn guidance into tangible reality through genuine partnerships and intensive regional initiatives. The goal is to create an attractive investment environment for clean energy, especially in regions that require urgent and innovative solutions. A true transformation towards clean energy cannot be achieved without effective international collaboration, and this network provides an opportunity to align global efforts to support emerging economies and developing countries on their journey toward a more sustainable future.