In a concerted effort to accelerate Egypt’s green transition and sustainable infrastructure development, Dr. Rania Al-Mashat, Egypt’s Minister of Planning, convened a high-level meeting with key representatives from the Africa Finance Corporation (AFC) and Infinity Power.
The strategic dialogue brought together Mr. Mokhtar Aboul Atta, North Africa Business Development Head at Infinity Power, and Mr. Eli Aloko, Director of Investment at AFC Asset Management, to explore avenues for enhancing climate-aligned collaboration and expanding private sector engagement in climate-resilient infrastructure projects.
Climate-Resilient Infrastructure in Focus
The discussion centered on the Climate Resilient Infrastructure Fund, a flagship initiative launched by the AFC in partnership with the Green Climate Fund. This fund aims to mobilize sustainable finance for infrastructure projects that mitigate the impacts of climate change, with a strong emphasis on the energy and transport sectors.
AFC and Infinity Power officials outlined the funding structure of the initiative and shared recent progress in securing concessional finance and technical assistance to benefit developing countries, including Egypt. The fund will catalyze private sector investment by de-risking projects and offering tailored financial instruments that enable scalability and long-term impact.
Egypt’s Green Vision and International Cooperation
Dr. Al-Mashat underscored Egypt’s commitment to fostering partnerships with international financial institutions and climate investment platforms to unlock new sources of capital for green infrastructure. She highlighted the pivotal role of public-private partnerships (PPPs) in delivering climate-smart development and reaffirmed the government’s strategy to empower the private sector as a key driver of transformation.
Egypt’s Climate Objectives
This engagement supports Egypt’s broader Vision 2030 and its Updated Nationally Determined Contributions (NDCs), which emphasize integrated, inclusive, and environmentally sustainable development. The meeting comes amid growing international attention to Egypt’s leadership role in climate diplomacy, particularly following its hosting of COP27 in Sharm El-Sheikh.
Infinity Power, a joint venture between Egypt’s Infinity and Masdar of the UAE, continues to be a strategic partner in Africa’s renewable energy transition, while AFC remains a critical financier of transformative infrastructure across the continent.
