Egypt’s Ministry of International Cooperation and the African Development Bank (AfDB) launched on Thursday the new country strategy 2022-2026 on the sidelines of the Egypt-International Cooperation Forum (Egypt-ICF 2022).
The main objectives of the 2022-2026 country strategy are gender-responsive climate action, improved climate-smart agriculture practices and increased renewable energy generation capacity.
The launching ceremony took place in the presence of Egyptian Environment Minister Yasmine Fouad; Kevin Orama, AfDB’s vice president for Economic Governance and Knowledge; Sherif El-Gabali, vice-chairperson of the African Affairs Committee at the Parliament; and Kevin Kariuki, AfDB’s vice president for Energy and Green Growth.
The AfDB’s board approved the strategy in June following an inclusive decision-making process and close collaboration with a variety of stakeholders led by the Ministry of International Cooperation, including Egyptian authorities, development partners, the private sector, and civil society.
Kevin Kariuki, AfDB’s vice president for Energy, Climate and Green Growth, said that the new strategy between Egypt and the African Development Bank is in line with the Bank’s climate strategy, as it enhances efforts to strike a balance between development and climate action.
AfDB is exploring opportunities to support Egypt’s Nexus on Water, Food and Energy Programme, NWFE Programme, to build resilience and achieve sustainability, Kariuki added.
“Egypt is working hard to overcome long-standing barriers to sustainable development in Africa, and our strategic partnership with AFDB is a key pillar to achieve that goal”, said Minister of International Cooperation Rania Al-Mashat.
“Currently, Egypt’s total portfolio with the AfDB accounts for more than US$ 6.73 Billion, across 110 operations, with around US$1 billion for 19 private sector operations in key sectors including manufacturing, financial sector, transportation, water, and agriculture,” the minister said.
In line with Egypt’s 2030 vision, the new country strategy strikes a balance between the environmental and social dimensions of development.
Underpinned by Egypt’s 2050 Country Climate Strategy, a subset of adaptation and mitigation projects covering the Nexus of Water, Food and Energy was put together, reflecting the interlinkages between climate action and development efforts.
