Signing of Partnership Agreement with Government of Egypt on the Nexus for Water, Food and Energy (NWFE)
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Signing of Partnership Agreement with Government of Egypt on the Nexus for Water, Food and Energy (NWFE)08 November 2022
Honourable Prime Minister,
Excellences, Ladies and Gentlemen,
I would like to thank the Government of Egypt for hosting the 27th Conference of Parties of the United Nations Climate Change Conference, which confirms the important role of the country in the global efforts to accelerate climate action, scale up adaptation and enhance appropriate finance for a just transition.
Being here today reaffirms the firm commitment of IFAD to be an active contributor to sustainable climate change responses and resilient food systems. The time for action is now: while decision makers discuss around tables, rural people are enduring the worsening effects of a changing climate. In the face of today’s food crisis, this has become even more urgent.
Small-scale farmers produce up to 80 per cent of the food in developing countries but receive less than 1.7 per cent of climate finance. To eradicate poverty and food insecurity — and secure a brighter, greener future for all — small-scale farmers must be brought in to the centre of climate change discussions.
At IFAD, we have worked for more than four decades to finance rural development and lift up the world’s poorest communities with an increasing attention to climate change mitigation and adaptation practices.
IFAD acts as an assembler of development finance targeted at the poorest people. Each dollar of core contributions to IFAD delivers $6 to $8 of investment through co-financing and partnerships.
To expand and deepen its impact, IFAD has reformed its financial architecture to increase borrowing capacity, and diversified partnerships and sources of finance. We were the first UN agency to receive a credit rating. And in June, we issued our first Sustainable Development Bonds.
Mobilising climate finance is and will remain a priority of our programme of loans and grants. To date, IFAD has committed more than a billion dollar in climate finance across 70 projects, and channelled another USD 300 million from our donors to six million vulnerable producers in 41 countries through our ASAP programme for small-holder adaptation.
Partnership is crucial to scale efforts up and enhance sustainable and inclusive rural development. We can invest and work as partners, but the main drivers of change need to be countries themselves. This is why IFAD’s investments align with country-led plans and national priorities. Our role is to contribute by providing funding, technical and policy support and help leverage resources and knowledge.
Ladies and Gentlemen,
We are here today to accelerate the green transition of Egypt and move an additional step towards the country’s National Climate Change Strategy 2050.
By signing the Partnership Agreement for the implementation of the Nexus of Water, Food and Energy programme, IFAD and Egypt consolidate and expand their relationship and reaffirm the role of IFAD as a partner of choice to promote sustainable rural development and as a broker of finance and knowledge.
In our common work to improve climate sustainability and food security in Egypt, we will keep a steady focus on building resilient livelihoods and inclusive food systems that work for all. We will ensure that the most vulnerable and those living in the most remote areas are not neglected.
Let me conclude by thanking again the Government of Egypt for this initiative and I look much forward to the next steps to see partnership in action.