Minister of International Cooperation Rania Al-Mashat met Senior Minister of Singapore Tharman Shanmugaratnam — who is also Adviser to the Prime Minister for Economic Affairs and President of the country’s Monetary Authority — on Tuesday to discuss mechanisms to enhance bilateral cooperation.
They also discussed Egypt’s preparations for the the upcoming UN Conference of Parties on Climate Change (COP27) that will be held in Sharm El-Sheikh this November.
This came during the minister’s visit to Singapore to participate in an international conference on ‘Scaling up Blended Finance to Catalyse a Green Transformation’ in the lead up to the COP27.
During the meeting, Al-Mashat reviewed the efforts made by Egypt to push the international community to move from the stage of climate pledges to actual implementation, leading by example at the local level through the launch of the 2050 National Climate Change Strategy, the National Platform for Green Projects, and the NWFE programme, which funds priority projects in the fields of water, food, and energy to encourage the transition to a green economy.
In a related context, the minister spoke about the Sharm El-Sheikh Guide to Fair Financing, which is intended to be launched during the COP27’s Finance Day, which aims to develop an international framework to stimulate innovative financing and promote joint action between relevant parties from governments, international financial institutions, development partners, non-profit organisations, as well as the private sector with the aim of providing the necessary development funds to clients.
She stressed that Egypt always places climate and development at the forefront of its priorities, which is evident in the projects implemented since 2014, most of which include a climate component, pointing out that through international partnerships, the state promotes this trend by financing green projects and providing technical and institutional support to national authorities.
Al-Mashat is participating in a conference in Singapore organised by the Monetary Authority of Singapore in cooperation with McKinsey & Company and the International Alliance for Blended Finance. She also spoke in a number of discussion sessions and held bilateral meetings with parties in the field of climate finance.
