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Minister of Finance Ahmed Kouchouk affirmed Egypt’s aspiration to build more effective international partnerships to secure concessional financing aimed at combating climate change and achieving energy security. This came during his meeting with Mohammad Abunayyan, CEO of ACWA Power, on the sidelines of the Climate Conference held in Turkey.

Empowering the Private Sector and Localizing Industry

Kouchouk explained that the government is committed to strengthening the private sector's role as a key partner in achieving the state's targets in the renewable energy and water desalination sectors, emphasizing the importance of transferring advanced technology and localizing feeder industries. He noted that a package of incentives and initiatives is in place to encourage the transition toward a green economy and expand renewable energy projects.

Financing Packages and Coastal Development

The Minister of Finance revealed that work is currently underway to formulate attractive financing and investment packages to implement water desalination projects and localize their industry, aiming to maximize economic returns and support development efforts in coastal areas. Kouchouk concluded his remarks by underscoring the importance of expanding cooperation with ACWA Power as a strategic partner in sustainable infrastructure projects.