Egypt Forges Partnership With World Bank to Boost Climate-Smart AgricultureSource: www.export-egypt.com 12/10/2023, Location: Africa |
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Egypt’s Ministry of International Cooperation formed a partnership with the World Bank to incentivize innovation in climate-smart agriculture (CSA), according to a ministerial statement .
The partnership builds on the achievements and capabilities of a project funded by the Korea Green Growth Trust Fund (KGGTF) which aims to localize technologies and best practices required to boost CSA in Egypt. The latest partnership with the World Bank comes as an application of the Climate Resilient Agri-Food Transformation (CRAFT) project under Egypt’s Nexus of Water, Food, and Energy (NWFE) programme. The new partnership also targets launching innovative digital applications that are tailored to serve the agricultural sector in Egypt. It is also drafted to cover regional activities with a focus on Africa. A key part of sustainable economic development and green growth is closely related to building sustainable infrastructure and efficient use of resources, which will be achieved in the partnership with the World Bank and the KGGTF, said Egyptian Minister of International Cooperation Rania Al-Mashat. The partnership with the international cooperation ministry will support the green growth path in Egypt through local solutions focused on climate-smart technology, noted Martien van Nieuwkoop, global director for the Agriculture and Food Global Practice in the World Bank’s Sustainable Development Practice Group. The World Bank is applying a new Country Partnership Framework (CPF) for Egypt with $7 billion worth of financing, dedicated to supporting the bank’s strategy in the country for FY2023–2027. During COP27, hosted in November 2022 in Sharm El-Sheikh, Egypt launched the NWFE programme to mobilize investments worth $14.7 billion to implement nine projects in mitigation and adaptation to climate change in the water, food, and energy sectors. Throughout 2022, Egypt has signed many memorandums of understanding (MoUs) with various international entities to attract foreign investment in green hydrogen and to become a global hub for hydrogen production. |
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