Egypt’s Minister of Planning, Economic Development, and International Cooperation, Rania Al-Mashat, met with Ambassador Claver Gatete, the Executive Secretary of the United Nations Economic Commission for Africa (UNECA), on the sidelines of the 79th session of the United Nations General Assembly and the Summit of the Future in New York.
The discussions focused on the UNECA’s mission to enhance the economic and social development of its member states, promote regional integration within Africa, and foster international cooperation to support the continent’s development.
Al-Mashat highlighted the importance of supporting quality growth in the face of a changing global financial system and the challenges facing developing countries, particularly debt issues. She emphasised the need for equitable financing that addresses diverse developmental challenges and underscored the role of private sector participation in sustainable development processes.
The meeting also reviewed ways to strengthen bilateral cooperation, leveraging Egypt’s experience as a middle-income country in Africa. Both parties exchanged views on advancing South-South and Triangular Cooperation.
The Ministry of Planning, Economic Development, and International Cooperation has implemented a strategy to support development cooperation among Southern countries and enhance triangular collaborations to contribute to developmental efforts in developing and emerging nations through knowledge exchange mechanisms and the dissemination of successful developmental experiences.
Al-Mashat referenced the launch of the National Integrated Financing Strategy by the Ministry, highlighting its efforts to support comprehensive economic development in Egypt. She noted the constructive cooperation with UNECA in preparing the “Sharm El-Sheikh Guidebook for Just Financing.”
The Executive Secretary of UNECA invited Al-Mashat to participate in the African Economic Conference 2024, which will be held in November in Botswana under the theme “Securing Africa’s Economic Future Amidst Growing Uncertainty.” This invitation acknowledged Egypt’s significant role in advancing South-South cooperation and supporting the continent’s priorities before international institutions.
It is noteworthy that UNECA played a key role in the Egypt International Cooperation Forum in both 2021 and 2022, and was instrumental in launching the “Sharm El-Sheikh Guidebook for Just Financing” with the Ministry.
The Minister’s participation in the United Nations meetings underscores the Ministry’s commitment to promoting sustainable economic growth. The Ministry’s objectives are focused on three key pillars:
- Evidence-based policies to address development gaps
- Fostering macroeconomic stability and implementing structural reforms to enhance competitiveness and improve the business environment
- Supporting the resilience of macroeconomic policies, transitioning to a green economy, and mobilising both domestic and international financing within an integrated national financing framework.
The Ministry achieves these objectives through a country-led multi-stakeholder engagement framework that involves national coordination and international cooperation, including ministries, governorates, national agencies, development partners, international financing institutions, multilateral development banks, the United Nations and its specialised agencies, the private sector, civil society organisations, think tanks, and others.
