Tuesday 18/March/2025 – 04:59 PM
Dr. Mustafa Madbouly, Prime Minister, participated this evening, in the event of launching the integrated national finance strategy in Egypt (E-Infs), in partnership with the United Nations and the United Nations Development Program; To enhance the sustainability of funding to implement Egypt Vision 2030 and the sustainable development goals; In order to bridge the sustainable development goals gap, and to create an integrated national framework that includes various sources of development financing, by integrating the best global practices and national solutions to finance development.
The event was attended by Deputy Prime Minister for Human Development, Minister of Health and Population, a number of ministers, a resident of the United Nations in Egypt, the residing representative of the United Nations Development Program in Egypt, a group of ambassadors, representatives of international organizations and United Nations agencies, a number of members of parliament, officials of the concerned authorities, and a number of representatives of private sector and civil society.
The event included a number of discussion sessions witnessed by the Prime Minister, including a session entitled the integrated national strategy for financing in Egypt: the road map for sustainable financing in Egypt, in which Dr. Rania Al -Mashat, Minister of Planning, Economic Development and International Cooperation provided a detailed explanation of the strategy, and another session entitled The upcoming steps: implementation and governance of the integrated national framework for financing; It was followed by the comment of a number of ministers and officials concerned with the financing file in Egypt.
Integrated National Finance Strategy in Egypt
The Prime Minister delivered his speech, which he started with the expression of his honor to be present in the effectiveness of launching the integrated national strategy for financing in Egypt, adding: Our meeting today is an embodiment of the pledge that we made for all of ourselves – decades ago – in order to ensure a better future for future generations.
The Prime Minister gives a speech during his participation in the effectiveness of launching the integrated national financing strategy in Egypt
During his speech, the Prime Minister pointed out that the state of uncertainty and turmoil that our world is going through today as a result of successive crises, whether economic, health, human or geopolitical, receiving their repercussions on national development paths, as well as financing and global economy systems, pointing out that these conditions resulted in slowdown in global growth rates, high cost of development financing and the depletion of its sources, increased investment risks, and weight The size of public debt, and other relevant challenges, which is what necessitates everyone to share solutions to urgent development issues, and to stand on the common denominators that create economic opportunities that enhance the welfare of peoples.
He added: The financing of development represents one of these common denominators, as international reports indicate that the development financing gap is expected to expand to reach 6.4 trillion US dollars by 2030, in the event that urgent global preventive measures are not taken, and development financing has emerged at the table of international negotiations, and extensively during the past years since the launch of the agenda of the Addis Ababa work on financing development in 2015 in conjunction with coincidence With the launch of the United Nations sustainable development goals.
In this context, Dr. Mustafa Madbouly appreciated the efforts made by the United Nations and its specialized agencies to support the sustainable development process in Egypt over 80 years of cooperation between the two sides since the establishment of the United Nations, pointing out that this joint cooperation aims to support sustainable development efforts through development programs and projects that aim to reduce poverty, social protection, improve education and health care, encourage gender equality, economic empowerment for youth Women, confront climate changes, agriculture, industry, and others.
During his speech, the Prime Minister indicated that Egypt was one of the first countries to believe the United Nations Sustainable Development Goals in 2015, and the agenda of 2030, and initiated the voluntary review three times before the world, within the framework of the policy of transparency and accountability, and also presented an important model in matching the financing of development with those goals, as well as the relentless efforts in localizing these goals at the local level in the governorates.
He added: In the context of keenness to maximize the benefit from the available development resources, the Egyptian government launched in 2016 the national program for economic and structural reforms, which is continuing to implement the Ministry of Planning, Economic Development and International Cooperation, in order to enhance economic competitiveness and improve the business environment and enhance the macroeconomic ability to withstand external shocks, support green transition and open future prospects for comprehensive and sustainable development.
The Prime Minister pointed out, during his speech, that despite the Egyptian government allocating a large part of its general budget for development projects, local financing remains limited in view of the size of the target in 2030, which requires an accurate measurement of the costs of achieving these goals, as well as public and private financial flows.
On the launch of the integrated national strategy, the Prime Minister said: Based on the development of the concept of integrated national strategies for sustainability and development financing by the United Nations, today we meet to launch the integrated national strategy for financing in Egypt, which represents the comprehensive and governing umbrella for local and foreign development financing in Egypt, after its initial launch, on the sidelines of the future summit and the 79th session of the United Nations General Assembly in New York September the past.
He continued his speech by saying: The strategy focuses on addressing development and financing gaps in seven major sectors determined by the Egyptian government, namely: health, education, social protection, water, sanitation, transportation, climate change, and empowerment of women, as the strategy determines a practical road map for sustainable and innovative financing through a set of procedures to fill the financing gap, including: expanding partnerships between the public and private sectors, and promotion Green banking system, priority financing support.
During his speech, the Prime Minister pointed out that as the Fourth United Nations International Development Finance Conference is approaching next June in Spain, we are looking forward to the results of the comprehensive review of the global financial system, the development scene, as well as the role of integrated national strategies in stimulating access to comprehensive and sustainable development.
Dr. Mustafa Madbouly added: In light of what the Egyptian state pledged during the United Nations Summit for Sustainable Development Goals in September 2023, Egypt is committed to providing all support to the private sector and increasing its contribution to the total state investments through a set of tools and policies that stimulate the private sector.
The Prime Minister concluded his speech by thanking and appreciating the efforts made by the participating national bodies, especially the Ministry of Planning, Economic Development and International Cooperation, the National Coordinator for Finance Affairs for Development, for the efforts made to coordinate to achieve comprehensive and sustainable economic development.
