CAIRO- 13 April 2021:Planning Minister Hala el Saeid has called for quick and daring steps to deal with repercussions of the coronavirus pandemic.
Indeed, tangible progress has been achieved where meeting the sustainable development goals is concerned, Saeid acknowledged, noting however that the world still needs to secure enough funds to be able to expedite green and sustainable recovery.
She was speaking during the 2021 Economic and Social Council (ECOSOC) Forum on Financing for Development via video conference Tuesday.
This cannot possibly be done without a boost in investment and social protection systems, the minister said, adding that suitable jobs should also be created to guarantee comprehensive growth is achieved.
Public investment should be effective and timely, Saeid told the forum, stressing that it should also encourage private business and major activities.
The Egyptian government has taken many precautionary measures to face the Covid-19 crisis, she said, citing moves to manage development priorities and expand investment in human capital, as well as efforts to achieve social protection and support weak segments.
This is done as the government continues action to build and improve the infrastructure, Saeid noted.
One such precautionary measure was the issuance of green bonds, the minister said, pointing out that Egypt was the first country in the Middle East and North Africa region to take such step.
Egypt has also endorsed sustainability standards to guarantee transformation to a green economy, she added.
The minister stressed the importance of enhancing regional and international cooperation to outline a comprehensive framework of action based on the principles of equality and common but differentiated responsibilities (CBDR).
This could not be reached without support from developed countries for developing nations, especially in terms of technological transformation, new and additional funds, and building of skills, Saeid concluded.