Egypt’s efforts in sustainable development are present at the United Nations Forum on Financing for Development
Egypt’s efforts in sustainable development are present at the United Nations Forum on Financing for Development
The Global Partnership for Development Cooperation event was held within the United Nations Forum on Financing for Development for the year 2023, in which the “Minister of International Cooperation” participated, considering that the forum is a comprehensive platform for dialogue between parties related to global challenges in the fields ofSustainable development; This is to discuss important methods that help achieve the Sustainable Development Goals (SDGs), in line with the Addis Ababa Action Agenda.
In her speech – via video technology – Dr. Rania Al-Mashat said: “The Finance for Development Forum is an opportunity to highlight the importance of cooperation between multiple parties, to confront the difficult times that the world is going through, and to remove the obstacles that stand in the way of sustainable development plans.” The Minister drew attention to the sensitivity of the current global conditions, and how collective international action is strongly required to preserve the gains achieved in the past decades.
The Minister of International Cooperationindicated that the world is still far from the correct approach with regard to development areas, despite the increase in levels of development financing in recent years, as this has resulted – according to Al-Mashat – in a widening gap in financing the Sustainable Development Goals (SDGs); Due to the Corona pandemic – and other global crises – and its negative impact on supply chains, and the deterioration of food security and energy saving results, which has presented the path to development goals among developing countries with great challenges and obstacles.
The Minister reviewed Egypt’s steps towards increasing the effectiveness of development cooperation, through the launch of the “Sharm El-Sheikh Fair Finance Guide,” which establishes principles for guiding parties related to fair climate finance, and is a guide that sets a road map for providers of government and private capital. To support development and climate action efforts.
In her speech, Al-Mashat considered that financing tools and mechanisms, such as debt swaps and sustainability bonds, are capable of being a broad gateway to developing and emerging economies. In order to reach the Sustainable Development Goals (SDGs) without compromising the budgets of those countries, drawing attention to the importance of the dialogue of the parties to the international community, and its importance in enhancing countries’ ownership of multiple development strategies.
She continued, saying: “Egyptian development plans reflect the state’s priorities with regard to achieving Sustainable Development Goals (SDGs) and implementing international partnerships that are important in providing the necessary resources through blended financing and innovative tools in the field of sustainable climate.”
She also said: “The Ministry of International Cooperation has used the results of the Global Partnership for Effective Development Cooperation (GPEDC) Monitoring Round to launch the Principles for Economic Diplomacy in 2020; To enhance cooperation between Egypt and multilateral and bilateral development partners, to achieve Sustainable Development Goals (SDGs), and these principles are: matching development financing with the UN goals for sustainable development, building a joint coordination cooperation platform, and promoting Egypt’s development stories.”
She added: “The Ministry works, through these principles, to support development cooperation efforts, and this is within the 2030 National Development Agenda, and to measure the extent to which the principles of transparency are consolidated in international partnerships.” Dr. Rania Al-Mashat explained that the Ministry has been able – through joint coordination cooperation platforms – to activate national interests in all development cooperation projects, and has also launched the national platform for green projects – the “Novi” program.
The Minister indicated that the platform helps accelerate the transition to a green economy, while contributing to supporting low-carbon development, and providing financing tools that benefit citizens with development projects in areas of great importance.
And regarding participation in the 2023 Global Partnership for Effective Development Cooperation monitoring evaluation round – in conclusion, the Minister welcomed the role of this participation in enhancing permanent cooperation between international parties, and ensuring the accuracy of the results achieved in monitoring and evaluation processes, and this in a way that accelerates the pace of private sector participation.
