Egypt is emerging as a regional hub for green industrial transformation, highlighted by the green hydrogen project in the Suez Canal Economic Zone (SCZONE), Minister of Planning Rania Al Mashat told the World Economic Forum (WEF) in Tianjin, China. Speaking during a session on energy transition, Mashat highlighted the hydrogen project—implemented in phases through strong public-private partnerships—demonstrates Egypt's ability to mobilise finance quickly and efficiently. The initiative is part of the country's broader ambition to become a regional exporter of clean fuels to Africa, Europe, and Asia. She stressed that Egypt's target of sourcing 42 per cent of its energy from renewables by 2030, as outlined in its Nationally Determined Contributions (NDCs), is not only environmental but fundamentally economic. The goal supports foreign direct investment and attracts low-cost climate financing, which is crucial for a country like Egypt. Mashat also underscored the success of Egypt's NWFE (Nexus of Water, Food and Energy) platform, which has become an internationally recognised model for climate investment mobilisation. In just two and a half years, it secured $4 billion in concessional finance for private-sector renewable energy projects. She cited the Egypt-Saudi Arabia electricity interconnection project as a prime example of regional energy integration, contributing to energy stability and enabling power exports across neighbouring countries. The minister also referenced partnerships with China, including the Belt and Road Initiative, to support Egypt's clean energy goals. Mashat emphasised the need to expand innovative financing mechanisms that attract private capital without increasing fiscal burdens on developing economies. She noted the critical role played by institutions such as the International Finance Corporation (IFC), European Investment Bank (EIB), and British International Investment (BII) in supporting Egypt's energy transition. Attribution: Amwal Al Ghad English Subediting: M. S. Salama
