Ministry of Planning, Economic Development, and International Cooperation 

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To Enhance the Partnership with the International Finance Corporation (IFC) in Balancing Infrastructure Projects with Environmental Standards

H.E. Minister of Planning, Economic Development, and International Cooperation Inaugurates Workshop on “Renewable & Sustainable Renewable Energy Development in the Gulf of Suez”

● H.E. Dr. Rania Al-Mashat: The International Finance Corporation plays a significant role in supporting the private sector to increase investments in renewable energy.

● A comprehensive study is being formulated to ensure a balance between our developmental needs and environmental commitments.

● The integration of planning and international cooperation enables us to adopt a more inclusive approach to achieving economic development.

H.E. Dr. Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation and Governor of Egypt at the World Bank, participated in a workshop titled “Nurturing Nature, Driving Development: Renewable & Sustainable Renewable Energy Development in the Gulf of Suez.” This workshop was organized in collaboration with the Ministry and the International Finance Corporation (IFC), with the presence of Sheikh Omar Sila, IFC Regional Director for North Africa and the Horn of Africa, as well as representatives from the World Bank, Bird Life Organization, the European Bank for Reconstruction and Development (EBRD), the Multilateral Investment Guarantee Agency (MIGA), the Asian Infrastructure Investment Bank (AIIB), the UK’s Development Finance Institution, and the Islamic Corporation for the Development of the Private Sector.

In her opening speech, H.E. Dr. Rania Al-Mashat emphasized the strong partnership between the Ministry and the IFC, which is dedicated to supporting the private sector in increasing investments across various developmental fields, including renewable energy. She highlighted that the workshop aimed to discuss and align perspectives on the urgent need to review and update environmental and social impact assessments, particularly to measure the cumulative mortality rates of birds due to current and future wind energy projects in the Gulf of Suez region, which is a global migration route for birds from Europe to Africa.

H.E. Dr. Al-Mashat stressed the importance of active participation in promoting sustainable development in Egypt and expanding the country’s competitive capabilities in renewable energy production while also preserving its rich biodiversity, especially the unique phenomenon of annual bird migrations through the Rift Valley/Red Sea and Gulf of Suez. She clarified that today’s workshop is not just a discussion on environmental issues but also a crucial step towards formulating a comprehensive study that guarantees sustainable development by balancing our developmental needs with our environmental obligations.

Dr. Al-Mashat explained that with the rapid expansion of wind energy and other projects in the Gulf of Suez region, it has become essential to update our current understanding of the risks of bird collisions and their interaction with this growing infrastructure. She pointed out that previous assessments are no longer sufficient to keep pace with the developments and emerging risks, thus requiring an update in the strategic assessments to evaluate the cumulative impacts and ensure the protection of migratory birds and the long-term sustainability of their populations.

The Minister outlined the role of the Ministry of Planning and Economic Development and International Cooperation in achieving comprehensive and sustainable development aligned with Egypt’s national goals and international commitments. She noted the merger between the Ministry of Planning and the Ministry of International Cooperation, which took place last July, allowing for a more integrated approach to planning. This merger has expanded the Ministry’s role beyond economic goals to include the formulation of inclusive strategies aimed at achieving sustainable development based on innovation, social equity, and environmental protection.

H.E. Dr. Al-Mashat further added, “Through this merger, the Ministry is now able to serve as a bridge connecting various sectors and stakeholders, from the government and private sector to international partners, fostering collaboration and integration in implementing projects with high environmental and social standards. Our role is no longer limited to planning for growth, but it also involves ensuring the development of strategies that promote inclusive and sustainable development, which meets the aspirations of the Egyptian people while preserving our natural heritage.”

In her concluding remarks, H.E. Dr. Al-Mashat confirmed that the latest practices in mitigating and monitoring environmental impacts would be reviewed to ensure that Egypt’s progress in renewable energy continues in a responsible and sustainable manner. She emphasized that developmental financial institutions, international financial organizations, and national entities will play a central role in providing the financial and technical support needed to ensure the inclusivity and sustainability of environmental and social impact assessments and cumulative impact evaluations.

On his part, Sheikh Omar Sila, IFC Regional Director for North Africa and the Horn of Africa, stated: “Sustainable development can only be achieved by pursuing it responsibly. Therefore, we are collaborating with the Egyptian government and development partners to achieve a shared goal of ensuring environmental sustainability in the implementation of renewable energy projects, aligning our environmental commitments with efforts to reduce carbon emissions.”