{"id":576948,"date":"2022-11-03T04:00:03","date_gmt":"2022-11-03T04:00:03","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/03\/govt-wants-usd-15-bn-for-nine-food-water-and-energy-projects-under-nwfe\/"},"modified":"2022-11-03T04:00:03","modified_gmt":"2022-11-03T04:00:03","slug":"govt-wants-usd-15-bn-for-nine-food-water-and-energy-projects-under-nwfe","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/03\/govt-wants-usd-15-bn-for-nine-food-water-and-energy-projects-under-nwfe\/","title":{"rendered":"Gov\u2019t wants USD 15 bn for nine food, water and energy projects under NWFE"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>The International Cooperation Ministry will seek blended finance for nine projects <\/strong><strong>worth USD 15 bn in its Nexus on Water, Food and Energy (<\/strong><strong><a href=\"https:\/\/www.sis.gov.eg\/Story\/169930\/Egypt-aspires-to-present-success-story-in-COP27?lang=en-us\">NWFE<\/a><\/strong><strong>) program<\/strong>, the ministry said in <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0RFLj8knP4b9pqncHzzamiFhgxSRVM7UmTN41i1ynMkpLWw1HNdyoE2aYusm4Vcs9l\">a statement<\/a> yesterday. The projects include a \u201cmassive energy project,\u201d five projects in the field of agriculture and food security, and three in irrigation and water resources, the statement said. The projects aim to achieve the emissions targets in our recently announced <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8e159042-29f4-48a3-8499-809e5f8c53a8\">nationally determined contributions (NDCs)<\/a>.<\/p>\n<p><strong>SOUND SMART- Blended finance \u2014 in this context \u2014 refers to a mix of financing from bilateral and multilateral lenders, the private sector, and the government. <\/strong>Drumming up blended and concessional financing for projects in developing nations will be a key theme at this year\u2019s COP27 conference, where we expect to hear more announcements on funding for NWFE. The program is the government\u2019s flagship initiative for getting climate finance to some of our most important green projects.<\/p>\n<p><strong>Some i<\/strong><strong>nternational finance institutions are already on board<\/strong>, and have announced a combined USD 2.3 bn of funding for the program:<\/p>\n<ul>\n<li><strong>The European Bank for Reconstruction and Development<\/strong> is <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6de6e137-c444-4227-8153-71e7742f4808\">committing<\/a> <strong>USD <\/strong>200-300 mn to the energy track of the program. The money will help Egypt to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bb47fa0e-86be-4684-9bfb-ee1067524e29\">decommission 5 GW of gas-fired power plants<\/a> starting next year.<\/li>\n<li><strong>The African Development Bank (AfDB)<\/strong> will provide <strong>more than USD 1 bn<\/strong> to NWFE, <a href=\"https:\/\/www.asharqbusiness.com\/article\/43575\">Bloomberg Asharq<\/a> reported yesterday. Samuel Kamara, the bank\u2019s country director, told the news outlet that the money would be split between the water, food and energy tracks.<\/li>\n<li><strong>The <\/strong><strong>International Fund for Agricultural Development (IFAD)<\/strong> is committing <strong>USD 200 <\/strong><strong>mn<\/strong> to the food track, regional director Dina Saleh told Asharq.<\/li>\n<li><strong>Other organizations<\/strong> <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/073f0563-1a97-45de-afc4-97c50b515bac\">partnering with IFAD<\/a> are providing another <strong>USD 775 mn<\/strong> though their identities are yet to be revealed.<\/li>\n<\/ul>\n<p><strong>More climate finance news triggers to look out for at COP:<\/strong><\/p>\n<ul>\n<li>The ministry will launch its <strong>Sharm El Sheikh Fair Finance guide <\/strong>during Finance Day (9 November). The guide proposes a framework for climate finance for emerging markets.<\/li>\n<li>The government will announce a partnership with the <strong><a href=\"https:\/\/www.cif.org\/\">Climate Investment Funds (CIF)<\/a><\/strong> that promotes investments in<strong> sustainable agriculture<\/strong> and rural communities.<\/li>\n<li>There will also be an event with the <strong>World Economic Forum (WEF)<\/strong> to promote <strong>PPP development projects<\/strong>, and another with the <strong>EBRD<\/strong> to promote <strong>green hydrogen cooperation<\/strong>. <\/li>\n<li>Expect more details on an initiative with <strong>IFAD <\/strong>focused on<strong> resilience and adaptation.<\/strong><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>The International Cooperation Ministry will seek blended finance for nine projects worth USD 15 bn in its Nexus on Water, Food and Energy (NWFE) program, the ministry said in a statement yesterday. The projects include a \u201cmassive energy project,\u201d five projects in the field of agriculture and food security, and three in irrigation and water [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7576],"tags":[6345,97,101,571,93,72,565,6328,364],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-576948","post","type-post","status-publish","format-standard","hentry","category-development-finance","tag-africa-development-bank","tag-agriculture","tag-development-finance","tag-ebrd","tag-energy","tag-enterpriseam","tag-food-security","tag-nwfe","tag-water","wpautop","entry"],"acf":{"mongo_id":"196346a6-9073-4ec3-be85-d7263213092b","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[576940],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Gov\u2019t wants USD 15 bn for nine food, water and energy projects under NWFE - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/03\/govt-wants-usd-15-bn-for-nine-food-water-and-energy-projects-under-nwfe\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gov\u2019t wants USD 15 bn for nine food, water and energy projects under NWFE\" \/>\n<meta property=\"og:description\" content=\"The International Cooperation Ministry will seek blended finance for nine projects worth USD 15 bn in its Nexus on Water, Food and Energy (NWFE) program, the ministry said in a statement yesterday. 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to\u2026","rel":"","context":"In &quot;DEBT WATCH&quot;","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/11\/38.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":577204,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/eib-could-commit-usd-1-5-bn-in-new-financing-to-egypt\/","url_meta":{"origin":576948,"position":4},"title":"EIB could commit USD 1.5 bn in new financing to Egypt","author":"enterpriseam admin","date":"14 November 2022","format":false,"excerpt":"EIB could invest in water projects in Egypt: The European Investment Bank (EIB) plans to commit USD 1.5 bn in new financing to Egypt, primarily focusing on water treatment, the bank\u2019s VP, Gelsomina Vigliotti, told Bloomberg Asharq on the sidelines of the COP27 summit. Vigliotti didn\u2019t provide further information about\u2026","rel":"","context":"In &quot;Development finance&quot;","block_context":{"text":"Development finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/development-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/11\/215.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":577303,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/17\/a-lot-of-renewables-a-lot-of-investment-to-drum-up\/","url_meta":{"origin":576948,"position":5},"title":"A lot of renewables = a lot of investment to drum up","author":"enterpriseam admin","date":"17 November 2022","format":false,"excerpt":"Initial agreements for green hydrogen and wind power projects worth up to USD 119 bn have been signed during COP27, according to figures published in a cabinet statement yesterday. The 28 GW worth of wind power Egypt has lined up will cost some USD 34 bn to put in place,\u2026","rel":"","context":"In &quot;Energy&quot;","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/11\/272.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/576948","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=576948"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/576948\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/576940"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=576948"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=576948"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=576948"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=576948"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=576948"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}