$14.7 billion.. investments in “Novi” program

The Minister of International Cooperation, Dr. Rania Al-Mashat, reviewed the "Novi" program, as a model for national platforms aimed at stimulating climate action

She referred to the joint political declaration issued by the Arab Republic of Egypt, Germany and the United States of America during the climate conference, which reflects the great international support and welcome to the "Novi" program. 

The developments of the Climate Investment Funds (CIF) initiative on nature and climate investments, as the Egyptian file of the “Novi” program came first at the level of countries in the North African and European regions within the initiative, which is scheduled to provide grants worth $500 million to developing countries to support the green transition.

The projects of the "Novi" program, includes 9 projects with investments of $14.7 billion.

1. Energy hub

  Includes a massive $10 billion project to replace thermal power plants with renewable energy.

2. Food security

The food security axis includes 5 projects with investments of $3.35 billion, which are:

• Adapting crop production in the Nile Valley and the Delta.

• Adapting in the northern Delta region affected by sea level rise.

• Enhancing the resilience of areas most in need.

• Modernizing irrigation systems in old agricultural areas.

• Establishing early warning systems.

3. Water axis

The water axis includes 3 projects with investments of $1.35 billion, which are:

• water desalination using solar energy

• Expanding irrigation systems using solar energy 

• Improving climate resilience by modernizing agricultural practices.

Novi program includes Several projects to enhance sustainable and environmentally friendly transportation efforts, with an investment of $3.5 billion, which reflects the integration of the country's efforts to achieve green and comprehensive transformation in various sectors.