As part of preparations for the Joint Financing Summit later this year, Dr. Rania Al-Mashat, Minister of Planning, participated in a high-level workshop on national platforms for knowledge exchange between countries and financing for development, organized by the Development Bank of South Africa (DBSA) and the Presidential Climate Committee of South Africa, within the framework of the G20 meetings in South Africa.
In her speech, Al-Mashat emphasized the importance of national platforms in enhancing partnerships and mobilizing development finance to tackle climate change, stressing that “national ownership” is a key element for the effectiveness of these platforms. She also highlighted the need to reform the global financial structure and enhance investment flows to emerging and developing economies through innovative financing tools.
Regarding Egypt’s experience, the minister presented the “NOFAY” platform, which operates on a blended financing approach, noting that the platform serves as a successful model for developing countries in addressing climate change challenges. She pointed out that the platform had mobilized approximately $3.9 billion to finance renewable energy projects, with updated renewable energy targets in the Nationally Determined Contributions (NDCs).
Al-Mashat also mentioned Egypt’s preparations for the Financing for Development Conference in Spain and the importance of this event in advancing international financial reforms and increasing capital flows to achieve sustainable development goals.
The participation also included prominent figures from several countries, including representatives from governments and development financing institutions from various nations.
