The High-Level Independent Expert Group on Climate Finance (IHLEG) has placed Egypt’s NWFE program and the Sharm El-Sheikh Guide for Just Financing at the forefront of its newly issued roadmap for increasing annual climate investments in developing countries to $1.3 trillion by 2035.
The comprehensive report was released on the sidelines of COP30 in Brazil, following a joint mandate from the COP29 and COP30 presidencies to develop practical solutions that integrate external and domestic finance for climate action.
NWFE: The First Multi-Sector National Platform of Its Kind
According to the report, Egypt’s NWFE platform—covering water, food, and energy projects— stands as the world’s first explicitly multi-sector national platform designed to mobilize investments across interconnected climate-critical sectors.
Launched in 2022, NWFE is showcased alongside similar platforms introduced by emerging economies such as Turkey, Brazil, and Bangladesh, which have sought to align national climate strategies with global priorities.
The report highlights several key lessons from NWFE and other national platforms, emphasizing:
- Multi-sector integration as a defining success factor
- National ownership, ensuring alignment with domestic priorities rather than donor-driven agendas
- High-quality, investment-ready projects that build credibility and accelerate implementation
- A phased approach, where countries begin with a focused platform and expand over time as capabilities grow
Minister Rania Al-Mashat: Egypt Has Set a Global Benchmark
Dr. Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, said the NWFE platform—despite being launched only three years ago—has become a global model now recommended by international institutions for replication in developing countries.
She noted that NWFE has successfully fostered deep coordination between the Egyptian government, development partners, and the private sector to advance a just energy transition, while equally accelerating climate action in water and food systems.
Al-Mashat added that several countries—including Turkey, Bangladesh, and Brazil—have already drawn inspiration from Egypt’s model, and that Egypt is now working with additional countries to transfer its expertise as part of South–South cooperation.
Major Climate Investment Achievements
To date, NWFE has mobilized $4.5 billion in climate investments to develop 5.2 GW of renewable energy projects.
Power purchase agreements (PPAs) have been signed for 8.8 GW, out of a total targeted 10 GW.
The minister highlighted that the platform is now a key driver for innovative and blended finance, including grants, debt swaps, concessional funds, and private sector investments—supporting Egypt’s nationally determined contributions (NDCs) and strengthening long-term climate resilience.
Sharm El-Sheikh Guide for Just Financing
The IHLEG report also underscores the significance of the Sharm El-Sheikh Guide for Just Financing, which outlines 12 principles to integrate fairness into global climate finance structures.
The guide reinforces:
- The right of developing countries to sustainable development and industrialization
- Alignment between global climate goals and national development priorities, for both mitigation and adaptation
- The need for enabling environments through capacity-building, institutional strengthening, and finance access
- The principle of common but differentiated responsibilities
- Embedding the concept of just financing into international climate finance frameworks, with mechanisms for implementation
Egypt’s Growing Global Leadership on Climate Finance
Egypt launched the NWFE platform and the Sharm El-Sheikh Guide during COP27 in Sharm El-Sheikh, in collaboration with international think tanks, experts, and development partners. Both initiatives now form a central part of global discussions on how developing countries can unlock fair, scalable, and sustainable climate investments.
As the COP30 report emphasizes, Egypt’s dual contribution—a pioneering national platform and a global framework for just financing—has positioned the country as a leading voice shaping the future of climate finance for the Global South.
