Ongoing agreements between Egypt and multilateral and bilateral development partners in environmental projects stand at about $238.2 million spread across four projects involving Italy, the World Bank, the French Development Agency, the European Investment Bank, Germany and the European Union, Egypt’s Minister of International Cooperation Rania Al-Mashat has revealed.
Al-Mashat made her comments during a meeting held Tuesday with both Minister of Environment Yasmine Fouad and Minister of Local Development Mahmoud Sharawi to discuss international sources of finance for developing waste treatment facilities using waste-to-energy (WTE) technology.
The meeting was the first to be held to discuss international financing for waste-to-energy (WTE) technologies, supporting state’s plan to reduce environmental pollution and improve public health, the Ministry of International Cooperation said in a statement.
“This will help sustainably manage Egypt’s solid waste system, provide an alternative clean energy source and boost the economy by providing job opportunities and increasing employment,” Al-Mashat said.
During the meeting, Al-Mashat called for another meeting within the Global Partnerships for Effective Development multi-stakeholder platform between multilateral and bilateral development partners, which will include the participation of the ministries of environment and local development, and all development partners, to present details of the new waste management system and find the best funding opportunities available.
Al-Mashat added that the Ministry of International Cooperation is committed to accelerating progress in achieving UN Sustainable Development Goals (SDG) through three pillars: People at the Core, Projects in Action and Purpose as the Driver.
For the third pillar, purpose is identified as a key driver to generate sustained and inclusive growth and to set clear targets to monitor and assess, with the purpose meeting SDG 7 for clean and affordable energy and increasing renewable energy capacity to 42 percent by 2035, according to the 2030 National Agenda, Al-Mashat added.
In 2019, Egypt received proposals, the bids for which reached $2 billion from foreign and Arab investors, to establish waste-to-energy (WTE) projects following cabinet approval of the feed-in tariff for these projects.