Egypt, AFC discuss expanding clean energy investments

Egypt’s Minister of Planning and Economic Development, Rania Al-Mashat, co-chair of the Mobilising Investment for Clean Energy in Emerging Economies (MICEE), held a meeting with Samaila Zubairu, CEO of the Africa Finance Corporation (AFC) and co-chair of MICEE, on the sidelines of the World Economic Forum in Davos 2025.

The discussion focused on mobilising investments in clean energy for the Global South and reviewing progress made since the launch of the MICEE Network for clean energy investment in emerging markets.

The meeting reviewed MICEE’s initiatives to multiply clean energy investments in emerging markets by over sevenfold within the next decade. They also discussed the implementation of a recently launched guide on solutions and best practises for renewable energy investments, featuring 100 global case studies, including four from Egypt.

The guide aims to foster innovative public-private partnerships, risk mitigation tools, and financing mechanisms to replicate successful models across target regions.

Al-Mashat highlighted Egypt’s efforts to attract substantial investments in renewable energy and green transition projects, supported by structural reforms since 2014. She noted the success of Egypt’s national platform for NWFE programme, which facilitated partnerships for renewable energy projects with a total capacity of 4,200 MW since 2022, out of a 10 GW target by 2028.

She also emphasised Egypt’s knowledge-sharing initiatives with developing countries, such as Tanzania, to promote climate action through national platforms and collaborative projects.

Attribution: Amwal Al Ghad English

Subediting: M. S. Salama