Egypt’s Minister of Planning and Economic Development and International Cooperation, Rania Al-Mashat, called for stronger Arab economic integration to address global challenges at the annual meetings of Arab financial institutions in Kuwait City.
Al-Mashat, also governor for Egypt at the Arab Fund for Economic and Social Development and the Arab Bank for Economic Development in Africa (BADEA), participated in the meetings alongside a high-level Egyptian delegation including the central bank governor, the finance minister, and the agriculture minister. The meetings brought together finance, economy, and international cooperation ministers from various Arab governments and heads of Arab financial institutions.
The meetings covered the boards of governors of the Arab Fund, the Arab Monetary Fund (AMF), BADEA, and the Arab Authority for Agricultural Investment and Development (AAAID), as well as the shareholders of the Arab Investment & Export Credit Guarantee Corporation, the Bader Fund supervisory board, and the Council of Arab Ministers of Finance. Al-Mashat participated in the boards of the Arab Fund and BADEA, as well as the shareholders’ meeting of the Guarantee Corporation.
“Arab economic integration represents a strategic pillar in facing the intertwined challenges witnessed by the world and the region,” Al-Mashat said, highlighting the discussions on the future of Arab financial and economic cooperation, future financial policies, and support for the Sustainable Development Goals (SDGs).
She noted the extensive discussions on stimulating investment, enhancing financial sustainability, and reviewing experiences in digital transformation, public debt management, tax developments, and energy security, all within the context of achieving the SDGs amidst global challenges and changing international financial landscapes.
Al-Mashat commended the role of Arab financial institutions in formulating development strategies and supporting member states, stressing the need for flexible and innovative models based on knowledge exchange and investments aligned with sustainable development priorities.
“Egypt has presented a pioneering model in the sound utilization of development financing to implement strategic projects that serve citizens and enhance economic stability,” Al-Mashat said, referring to Egypt’s Sustainable Development Strategy Vision 2030 and its cooperation with Arab financial institutions.
She stressed the need for institutions to consider geopolitical changes and structural shifts in the global economy, including supply chain fluctuations, climate finance, and digital transformation, and the importance of coordinating Arab positions internationally to influence the global development agenda and advance global financial system development.
“Encouraging partnerships between the public and private sectors and facilitating the movement of trade and intra-Arab investments enhances the ability of countries to face challenges,” Al-Mashat added.
The meetings, held amid growing challenges in food security, energy, and finance, focused on enhancing the resilience of Arab financial systems, expanding innovative financing mechanisms, supporting investment in green and digital transformation, intensifying Arab integration efforts, and strengthening partnerships with international institutions. The meetings also included the award ceremony for the Sheikh Abdlatif Y. Al-Hamad Development Award, which Egypt won twice consecutively.
