Egypt’s Minister of Planning, Dr. Rania Al-Mashat, held a bilateral meeting with Samaila Zubairo, CEO of the African Finance Corporation (AFC), during her participation in the World Economic Forum in Davos. The meeting focused on collaborative efforts and the progress made since the launch of the MICEE network, a global initiative aimed at mobilizing investment in clean energy in emerging markets.
Dr. Al-Mashat emphasized Egypt’s strategic goal of becoming a regional hub for renewable energy investments, with a focus on the country’s growing role in the energy transition. The two discussed key developments in the MICEE network’s initiatives, including its ambitious goal to increase clean energy investments by more than sevenfold over the next decade. A key component of these efforts is the recently launched guide to best practices and solutions for renewable energy investment, which includes 100 case studies from around the world, with four examples from Egypt.
Dr. Al-Mashat highlighted the importance of the guide in promoting clean energy investments and fostering innovative public-private partnerships to implement the recommended solutions. These solutions include risk mitigation tools and financing mechanisms that can be replicated across targeted regions.
The Minister emphasized that regional initiatives are the cornerstone of the network’s goals, stressing the importance of identifying the most suitable solutions for accelerating clean energy investments while considering the specific needs of each region. She also outlined Egypt’s ongoing efforts to attract substantial investments in renewable energy and the broader green transition, noting that structural reforms since 2014 have played a key role in driving both domestic and foreign investments in the sector.
Dr. Al-Mashat also provided an update on the National Platform for the “Naufi” program, which has successfully established partnerships between the public and private sectors, development partners, and international institutions. Since 2022, the program has secured renewable energy projects totaling 4.2 gigawatts, with a target of 10 gigawatts by 2028. The ministry is also working to share this experience and knowledge with other developing countries, such as Tanzania, to enhance the use of national platforms in advancing climate action.
In her remarks, Dr. Al-Mashat emphasized Egypt’s commitment to providing innovative and practical solutions for accelerating the shift to clean energy, stressing that building strong partnerships is crucial to achieving sustainable development and a better future for all. She highlighted Egypt’s active role in supporting the clean energy transition and expressed optimism that the MICEE network will become a key platform for uniting global efforts and strengthening public-private partnerships in clean energy investments. The goal, she said, is to offer solutions that will speed up investment in clean energy and positively impact emerging economies and developing countries.
