In a meeting with two delegations from the World Bank, Minister of Petroleum and Mineral Resources Tarek El Molla stated that the World Bank’s participation in the East Mediterranean Gas Forum (EMGF) as an observer is instrumental in pushing Egypt towards being a regional hub for energy.
During the meeting, he further elaborated that the World Bank is a strategic partner for Egypt’s petroleum sector and has contributed to achieving many success stories over the past years.
The meeting addressed the executive procedures for delivering Egyptian natural gas to Lebanon and the EMGF’s work programs. In addition, the global efforts to accelerate energy transition and reduce emissions were also discussed. El Molla highlighted the national projects to expand the use of natural gas, referring to Egypt’s full commitment to all international agreements aimed at preserving the environment.
He also noted that the bilateral meetings which he held on the sidelines of his participation at the UN Climate Change Conference 2021 (COP 26) in Glasgow, Scotland, discussed Egypt’s participation in the American initiative to reach zero emissions as well as its leading role in the eastern Mediterranean region.
For their part, World Bank officials confirmed their interest in following up on Egypt’s achievements in the areas of digital transformation, energy transition and emissions reduction. They added that Egypt’s selection as a nominee to host the UN Climate Change Conference 2022 (COP 27) is a strong indication of the global community’s appreciation of the country’s efforts to preserve the environment.
It should be noted that the first delegation, included Merza Hasan, Dean of the Board of Executive Directors and Executive Director of the World Bank, Rajui El-Etreby, Alternate Executive Director of Egypt at the World Bank Group. The second delegation included Dr. Paul Nomba, Regional Director of the World bank’s Infrastructure department in the Middle East and North Africa region, and Marina Weiss, World Bank country director for Egypt, Yemen, and Djibouti, in the presence of Osama Mubarez, Undersecretary of the Ministry of the Technical Office.