Urgent: Egypt launches integrated national financing strategy
Al-Mashat: The strategy presents a national approach to bridging funding gaps through innovative mechanisms and tools.
Dr. Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, emphasized the importance President Abdel Fattah El-Sisi attaches to financing for development, and his tireless and ongoing efforts to enhance the ability of developing countries to access concessional development financing, particularly climate finance, in addition to strengthening South-South cooperation.
This came in a speech delivered by the Minister of Planning, Economic Development and International Cooperation, during the high-level event organized by the Ministry under the patronage and attendance of Dr. Mostafa Madbouly, Prime Minister, to launch Egypt's Integrated National Financing Strategy (E-INFS). The event was attended by Dr. Khaled Abdel Ghaffar, Deputy Prime Minister for Human Development and Minister of Health and Population, Elena Panova, UN Resident Coordinator in Egypt, Alessandro Fracassetti, UNDP Resident Coordinator, and a number of ministers, ambassadors, and representatives of local, regional, and international organizations and bodies.
Dr. Rania Al-Mashat said, "Today we meet for the second time during the holy month of Ramadan. We met last week to launch the second follow-up report on the "Noofy" program. Today we meet again to launch the "Integrated National Financing Strategy in Egypt," the first financing strategy of its kind in Egypt. This comes within the framework of the "Sustainable Development Goals Financing Strategy in Egypt" project, in cooperation with the Office of the United Nations Resident Coordinator in Cairo, and with support from the United Nations Joint Fund for Sustainable Development Goals.
She added that these efforts have yielded positive results, enhancing Egypt's pioneering role regionally and internationally. Among the most notable of these successes is the extension of the President's chairmanship of the NEPAD Steering Committee until 2026. This extension comes in recognition by African leaders of the achievements made during his presidency since 2023, during which Egypt played a key role in implementing continental development projects and mobilizing the necessary funding for them. Furthermore, Egypt's accession to the BRICS group in 2024 and its hosting of the first international forum of the New Development Bank are also expected.
In the same context, the Minister of Planning, Economic Development and International Cooperation thanked Prime Minister Dr. Mostafa Madbouly for honoring and sponsoring the event, which reflects his commitment to strengthening financing for development efforts and his continued support for the efforts of the Ministry of Planning, Economic Development and International Cooperation in particular and the Egyptian government in general.
She emphasized the importance of the "National Integrated Finance Strategy in Egypt" in that it provides an integrated national financing framework aimed at promoting sustainable development in line with the National Agenda for Sustainable Development: Egypt Vision 2030. This is achieved by focusing on mobilizing sustainable financing to bridge the financing gap and reduce financial risks and future debt, ensuring fair and sustainable financing.
She noted that the National Integrated Financing Strategy highlights measures aimed at bridging the financing gap, increasing the flow of financial resources to key sectors, enhancing innovative financing mechanisms, encouraging private sector participation in sustainable development, and promoting a comprehensive government approach to implementing the necessary policies and initiatives to implement the strategy and monitor progress.
She explained that this year represents a pivotal year in the global financing landscape, as we are on the cusp of the Fourth World Conference on Financing for Development in June of this year in Spain, which aims to adopt a new framework for global financing to develop a more integrated and effective approach to financing sustainable development.
She added that launching the Integrated National Financing Strategy in Egypt at this time is a golden opportunity to prepare for the Arab Republic of Egypt's participation in this conference. She explained that the preparatory meetings for the conference over the past months have demonstrated the consistency of the results of the discussions with what was stated in the Integrated National Financing Strategy in Egypt, especially with regard to the participation of all stakeholders from the government, the private sector, and regional and international development partners in preparing the strategy, as well as proposing innovative and sustainable financial mechanisms and tools to mobilize financing from various sources - public, private, local, and international - and placing all of this within the framework of an integrated action plan, which contributes to addressing the financing gap and is consistent with national development priorities.
She commended the efforts of various national entities, the United Nations working group, the Ministry of Planning, Economic Development and International Cooperation, and everyone who participated in preparing this strategy.
