President Abdel Fattah Al-Sisi urged to develop and review the frameworks of international cooperation in development projects, to ensure that they meet the national needs and priorities.
He emphasized the importance of investing in human capital, providing services and social protection equally in all regions of the Republic, and highlighting the key role of the private sector in achieving comprehensive development in Egypt. He also expressed the state’s keenness to support and activate the private sector’s role.
This was during President Al-Sisi’s meeting on Saturday with Prime Minister Mostafa Madbouly and Minister of International Cooperation Rania Al-Mashat.
The presidential spokesperson, Ahmed Fahmy, said that the meeting discussed the national efforts to enhance multilateral and bilateral international cooperation through economic diplomacy, especially regarding supporting and empowering the private sector in Egypt.
Al-Mashat explained that the Egyptian private sector received concessional financing worth 10.3 billion dollars over the past four years, in the form of financial and technical support. President Al-Sisi was updated on the implementation of the “Hafiz” platform, which is the first integrated platform that connects development partners and the private sector. The platform offers various services by development partners, such as financial and technical support, investments, concessional development financing, training programmes, and capacity building.
The meeting also reviewed the main features of the Ministry of International Cooperation’s Annual Report, titled “Policy-Making Platforms and Activating Partnerships”. The report includes the results of international partnerships with development partners and concessional development financing. It reflects the government’s commitment to transparency and governance in international cooperation and development financing.
The meeting discussed the progress of the “NWFE” programme, and the outcome of the meeting between the government and the representatives of international financial institutions and development partners to monitor the programme’s performance.
A joint statement was issued with development partners on the national platform of the “NWFE” programme, which commended the government’s sectoral policies to encourage the private sector’s participation in the platform, and the government’s decision to update its Nationally Determined Contributions to speed up the transition to a low-carbon development path.
The statement also praised the success of the debt swap agreement with Germany to fund the energy hub of the programme, and confirmed that the “NWFE” platform is a practical model for mobilizing large-scale climate investments.
