In her speech, Al-Mashat emphasized the significance of partnerships, particularly with Kuwait, in addressing infrastructure gaps that support development across various governorates.
Rania A. Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, participated in the 13th session of the Egyptian-Kuwaiti Joint Committee held in Cairo.
During the session, Al-Mashat signed an executive program formalizing the scientific and technical cooperation agreement with Kuwait.
In her speech, Al-Mashat emphasized the significance of partnerships, particularly with Kuwait, in addressing infrastructure gaps that support development across various governorates.
She highlighted the pivotal role of the Kuwait Fund for Arab Economic Development (KFAED) in bolstering the Egyptian economy and enhancing its competitive edge, and has financed 54 projects across different sectors and regions in Egypt, with a total value of $3.5 billion.
The minister also outlined the government's structural reform efforts, which focus on three main pillars: building macroeconomic stability, enhancing economic competitiveness and improving the business environment, and supporting the green transition.
She commended President Abdel Fattah El-Sisi’s commitment to leveraging Arab funds for development programs, including the Sinai Peninsula Development Program and the Decent Life Initiative “Hayah Karima.”
She stressed the ongoing coordination between the KFAED and other Kuwaiti funds in international forums, aligning with global development financing goals and the reform of the global financial structure. This includes participation in the Arab Coordination Group.
Al-Mashat noted that Egypt is a major partner with the World Bank Group (WBG), coordinating efforts and aligning visions with the bank to achieve the goals of Egypt's Vision 2030 and support developing and emerging countries. She emphasized the need to enhance cooperation with both regional and global developing countries to bolster international development efforts.
Since 1980, the cooperation between Egypt and Kuwait has led to a diverse portfolio of development projects, including significant initiatives such as the Sinai Peninsula Development Program, and grants and technical assistance valued at approximately $50 million.
The session was chaired by Badr Abdel Aati, Egypt’s Minister of Foreign Affairs, Immigration, and Egyptian Expatriates Affairs, alongside H.E. Abdullah Ali Al-Yahya, Kuwait’s Minister for Foreign Affairs.
