These efforts have also mobilized over $2.5 billion in concessional financing from the EBRD and other development banks and international partners.
Minister of Planning, Economic Development, and International Cooperation, Rania Al-Mashat, held discussions with Odile Renaud-Basso, President of the European Bank for Reconstruction and Development (EBRD), to review the current and future cooperation portfolio and identify new areas of collaboration aligned with Egypt’s government priorities.
Al-Mashat highlighted that joint efforts between the ministry, national entities, and the EBRD have so far resulted in renewable energy project agreements with the private sector totaling a capacity of 4.7 GW.
These efforts have also mobilized over $2.5 billion in concessional financing from the EBRD and other development banks and international partners.
She affirmed that ongoing cooperation with the EBRD aims to achieve the program's target capacity of 10 GW while decommissioning 12 thermal power plants with a total capacity of 5 GW.
This initiative aligns with Egypt’s National Integrated and Sustainable Energy Strategy, which aims to increase the share of renewable energy to 42% of total energy production by 2030.
The talks also addressed efforts to mobilize concessional financing and private sector investments for energy projects under the NWFE program.
Al-Mashat emphasized that the success of the NWFE program, particularly in the energy sector, has inspired other governments to replicate the model of collaboration between Egypt and its development partners.
