4th D-8 Working Group on Energy in Cairo Successfully Held to set Concrete Programs and Projects

Cairo, Egypt | June 04, 2008 by D-8 Secretariat

The Government of The Arab Republic of Egypt has successfully hosted the Fourth D-8 Working Group Meeting on Energy in Cairo, Egypt on 1-2 June 2008. Attending the meeting were, among others, the D-8 Secretary General and representative from Islamic Development Bank.

4th D-8 Working Group on Energy in Cairo

At the Opening Session, Eng. Ahmed El Ashmawi on behalf of H.E. The Egypt Minister of Petroleum Eng. Sameh Fahmy,  delivered his Welcoming Remarks. He stressed on the fact that the meeting was a reflection of a shared concern and commitment of D-8 member countries in addressing the booming energy crisis. The D-8 should be able to enhance cooperation in the field of energy, capacity building programmes as well as the best and viable financing mechanisms, in addition to the efficiency of energy sectors and sustainability of supply. He highlighted the fact that securing reliable and affordable energy will depend on adequate investments, estimated at about $20 trillion over the next 25 years of which 50% is in developing countries.

While in his Opening Address, D-8 Secretary General Dr. Dipo Alam highlighted that the D-8 Working Group on Energy should focus its work on renewable energy, suggest long term strategies, including sustainability of supply and prepare a RoadMap of cooperation for the next 10 years. He also expected the preparation of a strategic study and the continuous monitoring and analysis of the high oil prices both in short, medium and long-term. He also encouraged all delegates, representing member states to implement all the programmes and projects agreed upon from the previous recommendations including the 4th WG.

The meeting was provided insightful views and discussion of the current energy situation from memberstates. Indonesia, for example, first presented a report reviewing the progress that has happened since the 3rd WG on Energy in Bogor, July 2006, then went on to present a country Energy Status Paper. In general all the papers from memberstates were mainly discussing the present energy situation, highly shadowed by the current energy crisis caused by the increasing demand and the sky-rocketing prices of oil. The main concern was to come up with combined strategies so as to help governments lay down national policies that can properly solve such problem.

D-8 discussing Energy issues in the 4th WGE meeting

In the second working session, the representative of the Islamic Development Bank, Dr. Mohamed Suhail, from the Infrastructure and Finance Division, gave a brief overview on the IDB. It should be noted that all member countries of the D-8 are as well members of the IDB. He explained that the IDB’s main objectives and roles are to foster socio-economic developments of the member countries as well as encouraging and promoting cooperation among the member countries. In conjunction with this meeting, the IDB informed that they are already financing energy projects inter alia public utilities and clean energy. The representative of the IDB welcomed cooperation among any D-8 member country and the IDB.

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