In conjunction with Finance Day events at the COP30 Climate Conference… Dr. Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation:Just financing to enable developing countries to meet their climate commitments

In conjunction with Finance Day events at the COP30 Climate Conference… Dr. Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation:

Just financing to enable developing countries to meet their climate commitments

 Preserving the climate action pathway requires genuine commitment from the international community

 Scaling up innovative financing and debt swaps to reduce the burden on developing countries

 Country platforms are a key tool for coordinating efforts among partners to mobilize climate finance

 Restructuring the global financial system to become more responsive to development and climate action challenges

 Egypt has become a platform for coordination among development partners to advance climate action

“NWFE” is a model of innovative country platforms and coordination between the government and the private sector

 $4.5 billion in concessional financing for the private sector to finance projects with a capacity of 5.2 gigawatts

EGP 637 billion in public green investments in the 2025/2026 plan, representing 55% of the total

 International partnerships and public investments reinforce the implementation of the Nationally Determined Contributions (NDCs)

*Water and food security are threatened by climate change and conflicts, and international cooperation must be strengthened to confront address risks*

H.E. Dr. Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, affirmed that Finance Day at the COP30 Conference represents an important opportunity to reaffirm the centrality of finance as a decisive factor in addressing climate challenges and achieving sustainable and inclusive development, explaining that Egypt continues to advance international efforts to ensure the provision of the concessional finance and grants required by developing countries to secure a fair and effective transition of economies toward low-carbon pathways.

The Minister of Planning, Economic Development and International Cooperation added, coinciding with the activities of Finance Day at COP30 in Brazil, that just financing has become an urgent necessity to enable developing countries and emerging economies to meet their climate commitments. Preserving the climate action pathway requires genuine commitment from the international community through common and differentiated responsibilities, and through the role of developed countries in providing the required financial resources.

H.E. pointed out the importance of expanding innovative financing and debt swap mechanisms to reduce the burden on developing countries, especially in light of the rising debt service costs that hinder their ability to make the necessary investments in various areas, including climate action.

H.E. further added that national platforms have become a key tool for coordinating efforts among partners to mobilize climate finance by fostering constructive partnerships between the private sector, development partners, international institutions, and governments. At the same time, she explained that restructuring the global financial system has become essential to make it more responsive to development and climate action.

Dr. Al-Mashat emphasized that despite the critical importance of water and food security, both are exposed to many risks due to climate change as well as conflicts and geopolitical tensions, which requires the international community to demonstrate greater solidarity to overcome these challenges and address the associated risks.

National Efforts in Climate Action

In a related context, Dr. Rania Al-Mashat affirmed that Egypt has become a platform for coordination among development partners to advance climate action, as reflected in the country platform for the NWFE Program, which has become a leading model for aligning the state's priorities with the support of international partners through a unified framework for mobilizing concessional financing and stimulating effective participation from international financial institutions and the private sector.

H.E. noted that since November 2022, the Ministry of Planning, Economic Development, and International Cooperation, in coordination with national entities, has worked to maximize the benefits from development partners, including the European Bank for Reconstruction and Development as a key development partner, and other partners, to mobilize financing, technical support, and innovative financing mechanisms to support the state's efforts to achieve a just energy transition, Nationally Determined Contributions (NDCs), and the national climate change strategy.

The Minister added that nearly two and a half years after the COP hosted by Egypt, the NWFE Platform has achieved progress that reflects Egypt’s leadership in transitioning toward a green economy. Power purchase agreements have been signed between the Ministry of Electricity and Renewable Energy and the private sector for 8.8 GW out of the 10 GW that the program aims to achieve by 2028. Meanwhile, the platform has succeeded in mobilizing $4.5 billion in concessional finance for the private sector to fund renewable energy projects with a capacity of 5.2 GW. Ongoing coordination with partners to mobilize financing for the remaining portion of the power purchase agreements.

In the same context, the Minister of Planning, Economic Development, and International Cooperation followed up on technical support efforts to decommission 5 GW of conventional thermal power plants under the country platform of the NWFE program, in alignment with Egypt’s efforts toward a just transition to clean energy.

Integrating Environmental Sustainability Indicators into the Planning Process

The Minister further explained that the Medium-Term Plan and the Program and Performance-Based Budgeting methodology reaffirm the state’s commitment to integrating environmental sustainability indicators into the planning process, noting that the Ministry is applying modern tools to measure the environmental impact of projects and determine the share of green investments, ensuring alignment between fiscal policies and climate action priorities.

Moreover, H.E. added that the Economic and Social Development Plan for FY 2025/2026 targets increasing investments directed to green projects to approximately EGP 637 billion, equivalent to 55% of total public investments. These investments will be distributed between mitigation and adaptation activities at 64% for mitigation and 36% for adaptation. She emphasized that the gradual increase in green investments reflects Egypt’s commitment to transforming climate challenges into opportunities for growth and achieving balance between environmental transformation and economic development objectives.

Dr. Al-Mashat also referred to the National Initiative for Smart and Green Projects, which is a leading national platform for supporting innovation and enhancing the participation of youth, the private sector, and civil society organizations in climate efforts. She explained that the initiative has contributed to highlighting innovative, finance-ready projects capable of scaling up across governorates, and represents a practical model for linking the Sustainable Development Goals with climate action. H.E. affirmed that the Ministry is working through international partnerships and public investments to support efforts to implement the Nationally Determined Contributions.