Egypt’s Nexus of Water, Food, and Energy (NWFE) program has received pledges of $2 billion in financing by international financing institutions, Asharq Business reported on November 13th, citing Dina Saleh, the Regional Director of the Near East, North Africa, and Europe Division in the International Fund for Agricultural Development (IFAD).

Saleh added on the sidelines of COP27 in Sharm El-Sheikh that the IFAD would contribute $200 million to NWFE for five food projects.

She noted that the food nexus aimed to collect $3.3 billion in funding.

Saleh stated that the IFAD would prepare the first group of NWFE’s projects in 2023.

It is worth noting that NWFE aims to accelerate the national climate agenda through the design, structuring, and preparation of concrete and implementable climate action projects, moving Egypt’s National Climate Change Strategy 2050 from pledges to implementation.

On November 11th, the United States and Germany announced commitments to mobilize $250 million worth of resources to Egypt to fund new wind and solar energy projects with a compound capacity of 10 gigawatts (GW).

 

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