12 multilateral development banks issued a joint statement under the title “National Platforms for Climate Action… Common Understandings and the Path to the Future,” in which they stressed that national platforms can serve as a powerful mechanism to support the development and implementation of countries’ strategies, their nationally determined contributions, and national adaptation plans and mobilize financing for action. climate change, through a coordinated state-led process and a partnership that brings together relevant parties, in order to build common understandings.
An effective mechanism to mobilize innovative climate finance
The multilateral development banks praised the national platform for the “Novi” program, which Egypt launched in 2022, in order to enhance green investment strategies, explaining that the platform launched by Egypt focuses on the relationship between water, food and energy, which the country has identified as part of the priority areas for climate and development. Thus, the Egyptian platform contributes to mitigating the effects of climate change and adapting to it, supporting resilience, and a just transition within the framework of broader environmental goals across the energy, transportation, water, and agricultural sectors.
The joint statement was issued by the Asian Development Bank (ADB), the African Development Bank (AFDB), the Asian Infrastructure Investment Bank (AIIB), the Social Development Bank for Europe (CEB), the European Investment Bank (EIB), and the European Bank for Reconstruction and Development (EBRD). ), the Inter-American Development Bank (IDB), the Inter-American Development Bank Corporation of America (IDB Invest), the Islamic Development Bank (IsDB), the New Development Bank (NDB), and the World Bank Group (WB).
In her comment, the Minister of Planning, Economic Development and International Cooperation confirmed that over the course of about 3 years of preparation and implementation, the “Novi” program has become the focus of attention of many multilateral development banks and international institutions, in light of its ability to create an innovative platform for policy coordination, based on To the G20 principles, to translate climate strategies into projects.
Dr. Rania Al-Mashat welcomed the joint statement issued by the multilateral development banks, explaining that the Ministry of Planning, Economic Development and International Cooperation continues to work with relevant national authorities, development partners, and international institutions, in order to mobilize more climate investments for mitigation, adaptation, and resilience.
She stated that Egypt presented a model different from the JETP platforms and created a space for joint work between the government, international institutions and the private sector to implement the National Climate Change Strategy 2050 and the Nationally Determined Contributions. The strong partnership with multilateral development banks has enabled it to contribute to creating an innovative platform that achieves integration between vital supporting sectors. For climate action, noting that the formulation of the program translates national visions and strategies into projects that attract green investments in the field of adaptation and mitigation. She also stressed that the program reflects Egypt’s commitment to moving from pledges to implementation.
She noted that the Ministry of Planning, Economic Development and International Cooperation, in addition to coordinating efforts to implement the program, has been promoting its mechanisms in international forums since the COP27 climate conference, through the annual meetings of major international institutions and conferences organized by the state, as well as the Forum for International Cooperation and Development Finance Egypt. ICF, until the platform became a subject of global interest, and many developing and emerging countries, especially on the African continent, sought to benefit from the Egyptian experience.
Focus areas for national platforms
The multilateral development banks have identified 4 main pillars that enhance the success of national climate action platforms, the most important of which are political commitment and national ownership, identifying investment needs, mobilizing financing from the government and private sectors, and committing to transparency and achieving measurable progress. They also affirmed their commitment to continuing to support countries to develop and implement platforms. National climate action, with a multi-sectoral approach focusing on climate action in line with national development priorities, in response to country demand, both in the initial phase of long-term development strategy and related policy development, and in the final implementation and financing phase, including updating contributions Nationally defined national action programmes, sectoral and other subnational implementation plans.
The banks confirmed that they will continue to work closely with development and implementation partners such as the Public-Private Partnership Group in their continued development of the JETP approach. Multilateral development banks will also cooperate with climate and environment funds, in order to accelerate access to the required granted financing to enable them to increase support and mobilize the required additional financing. To achieve the green transition.
Egypt’s Country Platform was launched as a national program that represents an effective regional model and concessional financing approach to deal with adaptation, mitigation and resilience issues. Egypt has developed a comprehensive national strategy for climate change that includes major goals until 2050, and a group of priority projects (26 projects) until 2030. 9 projects were selected in the fields of water, food, and energy, with estimated investments of about 14.7 billion dollars, and through a partnership with the Bank. The European Union for Reconstruction and Development, the African Development Bank, and the International Fund for Agricultural Development, the Ministry is working to mobilize innovative financing mechanisms, whether debt swaps, grants, or concessional financing for the private sector, in order to implement projects.
