AFD commits €100M to energize Egypt's NWFE program

The French Development Agency (AFD) has pledged its commitment to support the Nexus of Water, Food, and Energy (NWFE) program in Egypt, according to Clémence Vidal de la Blache, the Egypt country head for the AFD. The AFD had proposed an initial plan involving €100 million of blended financing aimed at stimulating the private sector in the country. Additionally, there will be a €10 million grant that will be provided by EU partners, with the express purpose of helping to support the energy transition in Egypt. The news was delivered during a meeting held by the Ministry of International Cooperation in Egypt that aimed at discussing the mobilization of innovative financing tools for implementing renewable energy projects. The projects, which are expected to have a capacity of 10GW, are proposed to be part of the NWFE program. The meeting also outlined the agenda for the upcoming COP28 and involved the participation of representatives from the Ministry of Electricity, the EBRD, the World Bank, Germany, the USA, and other relevant entities.