Launching the strategic framework between the Ministry of International Cooperation and the United Nations for more sustainable development
LaunchingThe strategic framework between the Ministry of International Cooperation and the United Nations for more sustainable development
In the meeting organized by the American Chamber of Commerce, with the participation of a delegation of investors and businessmen from the countries of Cyprus and Greece – Dr. Rania Al-Mashat, Minister ofInternational Cooperation, said: “Work is now underway to launch the strategic framework for partnership with the United Nations during the next five years 2023 – 2027; Forsustainable development”.
The meeting included a review of relations between all development partners, as well as a review of the international cooperation framework. The meeting also included a discussion of effective efforts to enhance the country’s development vision, through mixed and facilitated development financing.
This came with the participation of Dr. Sherif El-Kholy, “Regional Director of Actis”, Ms. “Elena Panova”, “United Nations Resident Coordinator in Egypt”, and other representatives of the business community and development partners. The Minister then confirmed that the Ministry is developing joint strategies with all development partners, including: the European Bank for Reconstruction and Development, the United States Agency for International Development, the European Union, and the European Bank. Drawing attention to the fact that last year witnessed the launch of the joint country strategy with the European Bank for Reconstruction and Development, as well as the African Development BankAfrican Development Bank, and recently the Board of Executive Directors of the World Bank Group approved the joint country strategy 2023-2027.
Al-Mashat pointed to continuous coordination between national authorities and all development partners, to develop strategies in a way that ensures their consistency with national visions and goals, in order to implement various development projects, as well as making funding available to the private sector. She also pointed out that all development financing is linked to projects in the state plan, as well as risk capital funds, credit lines to Egyptian banks, and contributions to companies, in addition to partnerships aimed at building capabilities, providing technical support, and analytical reports issued by the Egyptian economy, which are reports that explain the opportunities available to the private sector. In order to increase its participation in development efforts.
The Minister of International Cooperation stated that the framework for development financing and international cooperation in the Arab Republic of Egypt has been based for years on accumulated experiences that recognize the reality of the governance framework for each of the multilateral and bilateral development partners. This is in order to develop country strategies that are updated every five years, and their role is to align the goals and standards of development partners with national strategies and goals in all sectors. Until they are implementedSustainable Development Goals (SDGs).
The Minister noted that the continuous work with development partners – in addition to the clarity of the Egyptian state – in formulating projects implemented through international partnerships with high transparency in making information available – helped development partners to participate in projects, as one project includes many partners through multiple financing mechanisms.
Dr. Rania Al-Mashat reviewed a number of models implemented within this framework, including: the project of the Norwegian company “Scatec” working in the field of generating green hydrogen in the Suez Canal Economic Zone, where the first phase of the project was launched during the “Climate Conference”; Explaining that the project implementer is the Norwegian private sector, with financing and support from development partners, such as: the “Climate Investment Fund” and the “European Bank for Reconstruction and Development.”
She also referred to the “Benban Solar Energy Park,” which was implemented with mixed financing from the “International Finance Corporation” and the “European Bank for Reconstruction and Development.” Structural reforms in the energy sector motivated its implementation and helped the project succeed through partnership between the government and private sectors.
She stated that there are many vital sectors that benefit from these international partnerships, including: emerging companies and entrepreneurship by providing capacity-building services, consulting, training, and contributing to risk capital funds; As well as the wheat storage sector through the launch of high-tech silos. She spoke about the annual alignment of the development financing portfolio with the United Nations Sustainable Development Goals (SDGs). To know the progress made in supporting each goal, and to set a vision for future steps in line with the country’s priorities.
Then the Minister of International Cooperation moved on to talk about Egypt’s presidency of the climate conference “COP27” and climate work in general, adding: It is a conference that has a clear contribution to supporting climate action efforts in the governmental and private sectors, and it has also helped to consolidate sustainable ideas and environmental standards in the work areas. All Egyptian.
Al-Mashat touched on the guide launched by the Ministry of International Cooperation at the “Climate Conference”: “Sharm El-Sheikh Guide to Fair Finance,” which is a guide prepared by more than 100 multilateral and bilateral development partners, in addition to commercial and investment banks, the private sector, and non-profit organizations. All of this is in light of the vital role that organizations can play in providing fair climate financing for emerging economies and developing countries.
During the meeting, the following were held by: Dr. Sherif El-Khouly, “Regional Director of Actis,” and “Elena Panova,” “United Nations Resident Coordinator in Egypt.” A dialogue with Dr. Rania Al-Mashat, Minister of International Cooperation, about those efforts that stimulate climate finance and work to attract the private sector. In order to implement the Novi Program projects.” The Minister then explained that the program is a national platform aimed at stimulating Egyptian efforts in the green transformation, and this is under the umbrella of the National Strategy for Climate Change 2050, which identified a number of projects in priority sectors, and from here an initial group was selected that includes 9 projects in the fields of food, energy, and water. The platform also aims to bring together climate and mixed financing mechanisms, in addition to private sector investments.
She noted that a number of partnership letters and agreements were signed during the “Climate Conference” in order to mobilize climate funds, in addition to the issuance of the joint political declaration by the Arab Republic of Egypt, the United States of America, and the Federal Republic of Germany. The announcement included financing pledges and debt swap pledges. In support of green transformation efforts in Egypt. Drawing attention to the fact that the energy axis has a major project that will help in the just transition towards renewable energy, and that coordination is taking place between development partners in each of the three axes. With a desire to coordinate work with other development partners, in order to reach the desired goals, which means strengthening the state’s efforts in the field of climate action.
Al-Mashat said: “The specific timings for the projects were prepared in partnership with the relevant national authorities in each of the axes, as work always takes place between the technical teams. To determine the steps of progress towards the program’s goals.”
