Rania Al Mashat
Al-Mashat clarified that $ 6.7 billion out of the funding was secured to finance sovereign projects and $ 3.1 billion was to support the private sector.
She added that the Ministry of Transport benefits the most from current funds, at €721 million.
This came during A-Mashat’s meeting with a delegation from the French Treasury to follow up on the status of current projects and harness new opportunities in Egypt-France’s cooperation to provide development financing for green recovery, transportation, housing, sanitation, and health.
She noted that Ministry of International Cooperation is working to push forward in this particular direction through international partnerships with multilateral and bilateral development partners
The minister's remarks were made at a virtual meeting at the World Economic Forum on Monday. The WEF panel session focused on the challenges women have faced since the start of the Covid crisis.
This came during Al-Mashat’s presentation of the results of the periodic monitoring of development projects that were implemented throughout the year 98 percent of the projects are on the right track in implementation with no constraints
These investments include LE 72.4 million direct investments in 6 companies and LE 31.4 million in indirect investments in a business accelerator.
This came during Al-Mashat sharing a message of cooperation and public-private collaboration in the World Economic Forum’s 2020 report, highlighting the forum’s activities and initiatives she took part in to push Egypt’s development forward.
With a third of total development financing dedicated to the private sector in 2020, totaling $3.1 billion out of $9.8 billion, Al-Mashat underlined that this is an opportunity to showcase Egypt’s past successes in securing development financing
The ministry secured 4 grants from the United States of America; $15 million for the Basic Education Development Program in the second phase.
Minister of International Cooperation, Dr. Rania Al-Mashat, and Ambassador of South Korea to Egypt, Hong Yin Wook, discussed future avenues of bilateral cooperation for 2021 and the status of ongoing projects in the current year; reaffirming unwavering commitment to deepen bilateral relations between the two countries.
“The potential for a green recovery and environmentally conscious investments are finding their way into the spotlight, which pushes for a globalized agenda as ESG principles are now rules that all governments and companies must follow."
Minister of International Cooperation Rania el Mashat said she has put all her support behind the push for cooperation around a green and circular economy.
These came during the virtual Women Working For Change (WFC): The Summit organized by the Africa CEO Forum and co-hosted by International Finance Corporation (IFC), on November 24 under the theme “Imagine tomorrow. Change today”.
This came during Al-Mashat’s virtual meeting with Director General of the German Federal Ministry for Economic Cooperation and Development Claudia Farning,
This came during a meeting held between Al-Mashat, and Minister of Social Solidarity Nevin Al-Kabbaj, to discuss expanding cooperation in regards to increasing international development financing to support Egypt’s civil society and expand social protection programs.
This is to ensure that all projects between development partners are streamlined and effectively coordinated; adopting a consistent Global Partnerships Narrative People&Projects&Purpose (P&P&P); and mapping ODA financing to SDGs for all projects with multilateral and bilateral development partners.
This twin-track approach integrates green growth in Egypt’s national development plans through national and international-level actions, Al-Mashat added.
The minister referred to Egypt’s growth rate despite the recession caused by COVID-19 pandemic, referring to the expectations for Egypt to hit 5 percent growth rate during 2021.
Minister of International Cooperation, Resident Coordinator of the United Nations Chair Periodic Meeting of Steering Committee for the Partnership Development Framework with the United Nations