CAIRO, March 13 (MENA) - Prime Minister Mostafa Madbouli on Thursday participated in the launching ceremony of the the second progress report on the Country Platform for the "NWFE" program by the Ministry of Planning, Economic Development and International Cooperation.

NWFE platform focuses on the nexus of water, food, and energy projects, as well as sustainable transport under the "NWFE+" initiative.

The report is issued under the patronage of Madbouli under the theme "Two Years of Implementation" in the New Administrative Capital (NAC).

The launching ceremony was attended by Deputy Prime Minister for Industrial Development and Minister of Industry and Transport Kamel el Wazir, a host of lawmakers, chairman of the Suez Canal Economic Zone (SCZONE) and ambassadors of Germany and Norway.

Ambassadors, representatives of international partners and organizations as well as officials of ministries and bodies concerned took part in the launching ceremony.

Participants of the ceremony included Minister of Water Resources and Irrigation Hany Sewilam, Minister of Electricity and Renewable Energy Mahmoud Essmat and Minister of Agriculture and Land Reclamation Alaa Farouk.

Officials and heads of the European Bank for Reconstruction and Development (EBRD), the African Development Bank (AfDB), the International Fund for Agricultural Development (IFAD) and the European Investment Bank (EIB) were present at the ceremony.

At the beginning of ceremony, the premier paused for a photo-op with the ministry of industry, heads of the international mission and other participants.

Addressing the launching ceremony of the report, Minister of Planning, Economic Development, and International Cooperation Rania el Mashat said that the Egyptian government during its presidency of the UN Climate Change Conference (COP27) has presented an innovative, more inclusive, and applicable mechanism across various economic and social systems, business environments, and emerging markets, enhancing the optimal use of development resources and achieving resilience in the face of climate change.

Mashat said that the climate finance gap is widening and increasing, with adaptation and mitigation efforts require additional investments of approximately $366 billion annually in developing countries.

The Country Platform for the "NWFE" Program includes nine projects in water, food, and energy sectors, as part of the National Climate Change Strategy, with an estimated investment of approximately $14.7 billion. It also encompasses projects in the sustainable transport sector.

Over the past two years, the Ministry has successfully mobilized international support from various climate action coalitions, multilateral and bilateral development partners, and multilateral development banks, to provide innovative financing tools and private investments for the program's implementation. (MENA)

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