Egypt’s Minister of Planning, Rania Al-Mashat, held talks with Dilma Rousseff, President of the New Development Bank (NDB) on the sidelines of the ninth annual meeting for the NDB’s governors, themed “Investing in a Sustainable Future,” from August 28 to 31 in Cape Town, South Africa.
Boosting Cooperation with the NDB
During their discussion, Al-Mashat and Rousseff explored avenues to strengthen cooperation between Egypt and the NDB. The bank’s involvement in financing crucial projects in Egypt was a key focus, particularly in the realm of renewable energy.
NDB’s Role in Egypt’s Renewable Energy Goals
A highlight of the meeting was the NDB’s contribution to a significant renewable energy project in Egypt—a 1.1 GW Wind Power Plant in Suez. This project aligns with Egypt’s ambitious plan to generate 42% of its energy from renewable sources by 2030. The collaboration aims to ensure sustainable growth and energy security for the nation.
Promoting Green Transformation Investments
The discussions also covered Egypt’s efforts to attract investments in green transformation sectors, particularly water, food, and energy. These initiatives are crucial for Egypt as it seeks to transition to a more sustainable and environmentally friendly economy.
The meeting between Rania Al-Mashat and Dilma Rousseff underscores the importance of international cooperation in achieving sustainable development goals. By working with partners like the NDB, Egypt is poised to make significant strides in renewable energy and green investments, paving the way for a sustainable economic future.
This collaboration not only highlights Egypt’s commitment to sustainability but also sets a precedent for future international partnerships aimed at addressing global environmental challenges.
