Dr. Rania Al-Mashat Discusses with JBIC Representative in the Middle East the Developments of the Bank’s Investments in Egypt to Support Development Efforts and the Green Transition

H.E. Dr. Rania A. Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, met with Mr. Kenny Kitamura, chief representative for the Middle East at the Japan Bank for International Cooperation (JBIC), at the bank’s headquarters in Dubai. The meeting focused on ways to enhance joint cooperation in the fields of sustainable development, international finance, and investments as part of strengthening economic and developmental ties between Egypt and Japan.

H.E. Dr. Al-Mashat emphasized the deep and longstanding ties between Egypt and Japan, with Japan being one of Egypt’s key Asian development partners. The development cooperation portfolio includes more than 18 projects, which have led to fruitful and constructive partnerships in a number of strategic sectors that foster investment in human capital, as well as infrastructure development to support inclusive and sustainable growth.

H.E. Minister Al-Mashat also highlighted the important role of the JBIC in the Middle East in supporting renewable energy projects and promoting sustainable development in Egypt. She commended the bank’s contribution to the "NWFE" program, which reflects its commitment to supporting Egypt’s sustainable development agenda and advancing climate action.

H.E. Dr. Al-Mashat pointed out Egypt’s commitment to enhancing cooperation with the bank to accelerate the energy transition, support green hydrogen projects, and contribute to achieving Egypt’s strategic goals in the field of clean energy, while also supporting the government’s efforts to strengthen national industries.

The Minister also discussed the bank’s role in financing private sector projects in Egypt, which supports national development priorities and stimulates Egyptian-Japanese partnerships.

H.E. Dr. Al-Mashat expressed interest in expanding cooperation with JBIC and the Japan International Cooperation Agency (JICA), as well as enhancing partnerships with other development partners to support the energy pillar in the "NWFE" program and move forward with implementing additional renewable energy projects, particularly in the area of developing green hydrogen initiatives.

H.E. Minister Al-Mashat also commended the bank’s commitment to supporting Egypt’s renewable energy agenda and its ongoing contribution to sustainable development efforts in the country. She stressed the importance of continued dialogue and strategic cooperation to ensure the successful implementation of current and future projects, which will contribute to achieving shared development goals.

The meeting also discussed Egypt’s efforts in transitioning to green energy, which includes expanding renewable energy capacity through the "NWFE" program, as well as boosting the green hydrogen industry in Egypt. Egypt has established the "National Green Hydrogen Council," which is responsible for coordinating and developing the industry, aiming to unify national efforts, attract investments, and enhance Egypt’s competitiveness in the global hydrogen market. Furthermore, Egypt has launched an ambitious plan to localize green hydrogen production, particularly in the Suez Canal Economic Zone.