Egypt to continue economic, structural reforms: Al-Mashat comments on CNN video



Tue, 14 Apr 2020 - 09:55 GMT


Tue, 14 Apr 2020 - 09:55 GMT

FILE - Minister of International Cooperation Rania al-Mashat

FILE - Minister of International Cooperation Rania al-Mashat

CAIRO – 14 April 2020: “We will continue to push forward with economic and structural reforms, designed to foster private-led inclusive growth tailored to our People through Projects with Purpose P&P&P,” Minister pf International Cooperation Rania Al-Mashat said on its twitter account commenting on CNN 60-second video about Egypt’s economy.

Earlier in April, Al-Mashat presented a New Global Partnerships Narrative during the videoconference meeting with more than 100 professionals representing heads of country offices, development professionals from bilateral partners as well as multilateral development organizations to discuss opportunities for advancing and promoting future mutual economic cooperation and consequences of the spread of novel corona virus.

During the meeting, Al-Mashat unveiled the New Global Partnerships Narrative that will define cooperation between Egypt and the international development community, the P&P&P (People&Projects&Purpose).

The Minister mentioned that discussions during the meetings focused on Egypts efforts for promoting structural reforms and economic stimulation as well as financial inclusion which all serve achieving the SDGs. She highlighted the new vision of the ministry to reshape the strategic communication narrative in a way that clearly defines Egypt development initiatives in collaboration with development partners for both Egyptian people domestically as well as internationally for development partners.

The new narrative as the Minister presented will focus on three pillars which are PEOPLE AT THE CORE, PROJECTS IN ACTION and PURPOSE AS THE DRIVER to highlight the development cooperation to achieve SDGs which is priority on all sectors, the Minister confirmed the commitment of the ministry (through the current development portfolio) to achieve these SDGs locally and internationally.

CNN published Monday a 60-second video reviewing Egypt’s economy, according to Prime Ministry account on social media.

CNN stated that Egypt’s economy grew 5.6 percent in 2019, making it one of the world’s fastest growing economies.

It added that Egypt is upgrading its economic infrastructure, expanding the strategic Suez Canal, creating free zones, boosting tourism, and investing in green energy.

CNN referred to Benban project in Egypt as one of the world’s largest solar complexes.

“Egypt’s Benban project is expected to be capable of powering 1 million homes,” CNN noted.

Benban plant includes 32 stations producing electricity with a capacity of 1,465 megawatts from solar energy.

The project is considered the largest solar power project in the world and was funded by the World Bank with a total value of $653 million. The total value of the project is $2 billion for a total power generation of up to 1600 megawatts. The project is carried out with the participation of the European Bank for Reconstruction and Development and a large number of major international companies.

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