Several international institutions and development partners have commended the Ministry of International Cooperation’s launch of the book, “Stakeholder Engagement through Economic Diplomacy”, in collaboration with the London School of Economics (LSE).
The distinguished economic figures who participated in the launch event said that the book manifests Egypt’s ownership and provides a model for the neighbouring countries to follow.
The book is the first of its kind to document Egypt’s experience in international cooperation and development financing, as well as launching an institutional framework for economic diplomacy.
This rests on three pillars aimed at pushing international cooperation mechanisms to achieve the United Nations’ (UN) Sustainable Development Goals (SDGs). The book further presents the different methodologies implemented to map the projects funded by development partners to the SGDs.
Carmen Reinhart, Vice President and Chief Economist of the World Bank, said, “I would like to emphasise the timeliness of the efforts undertaken by the Ministry of International Cooperation to involve stakeholders in the development process, and to direct development cooperation to serve the priorities of the country, and I hope that this experience will turn into a template for other countries to follow.”
Reinhart added that Egypt’s experience is a great step towards achieving greater transparency, a point of discussion needed to be reiterated worldwide during global political and economic conferences.
Minouche Shafik, Director of the London School of Economics, highlighted the experience in development finance and the launch of the Multistakeholder Platforms (MSPs) put forward by Egypt’s Minister of International Cooperation Rania Al-Mashat.
Shafik said that this is of utter importance with regards to consolidating partnerships between stakeholders and putting people at the core to achieve the SDGs.
She added that the book presents the ODA-SDG mapping that fosters the principles of governance and transparency, and underscores the efficiency and effectiveness of resources in attaining SDGs. It also informs future partnerships of the existing gaps to develop an informed decision making process.
Erik Berglöf, Chief Economist of the Asian Infrastructure Investment Bank (AIIB), and moderator of the discussion on the book, said that the book showcases Egypt’s leading role in achieving development.
It also highlights what the country has undertaken in directing international cooperation and development financing to meet national priorities.
Berglöf described the book as a catalyst for synergies and joint cooperation to implement development plans efficiently that engage stakeholders from the public and private sectors and civil society.
He expressed the development community’s need for such publication, saying, “There is no doubt that the Egyptian model in development cooperation proposes an effective and influential blueprint to be followed by many.”
Achim Steiner, Director of the United Nations Development Programme (UNDP), commended the launch of the book, calling it an “eye-opening publication” that comes during critical times.
He emphasised that only 10 years separates us from achieving the SDGs, while countries seek to recover following the repercussions of the novel coronavirus (COVID-19) pandemic. He added that the Egyptian experience of multilateralism is one worth documenting and discussing.
Munir Akram, President of the United Nations Economic and Social Council (ECOSOC), said that the ODA-SDG mapping is a crucial step towards realising the SDGs. He also said that Egypt has been one of the first countries to implement this framework.
