Egypt has officially launched its Integrated National Financing Strategy during the United Nations’ Summit of the Future in Washington, D.C. The announcement was made by Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, on Monday.
This launch occurred during a high-level event titled "Tapping into Innovative Financing Instruments to Accelerate Sustainable Development: A Roadmap to Just Development Finance," organized in partnership with the United Nations Development Programme (UNDP) and the European Union as part of the UN General Assembly’s 79th session activities.
Al-Mashat highlighted that this strategy is a collaborative initiative between the Egyptian government and the UN, developed as part of the Financing Strategy for Sustainable Development Goals in Egypt. It has garnered support from various international organizations, including the International Labour Organization, UNCTAD, UNICEF, and UN Women.
“This strategy offers a comprehensive framework for national financing aimed at boosting sustainable development in alignment with Egypt’s Vision 2030,” Al-Mashat stated. She added that it focuses on mobilizing sustainable finance to address funding gaps and mitigate financial risks.
The strategy prioritizes seven key sectors identified by the Egyptian government: social protection, sanitation, health, transportation, education, climate change, and women’s empowerment. These sectors are vital for achieving specific development goals and broader objectives.
Al-Mashat also mentioned a transition from traditional financing mechanisms to more comprehensive strategies for sustainable development. Key actions outlined in the strategy include assessing costs for sustainable development goals, expanding public-private partnerships, enhancing the green banking system, and boosting financing tools for priority sectors.
Dr. Abdullah Al-Dardari, UNDP Director for Arab States, emphasized the importance of innovative financing solutions for sustainable development. “The launch of Egypt’s Integrated National Financing Strategy showcases how countries can better align financing flows with their developmental goals,” he said.
Dr. Markus Berndt, Head of the European Investment Bank's Representation Group to the U.S. and UN, reaffirmed the Bank’s commitment to collaboration with Egypt. “This meeting is essential for strengthening multilateral financial systems and mobilizing funding for the private sector,” he stated.
The event featured interactive discussions on the role of multilateral development banks in promoting innovative financing, culminating in the official launch of Egypt’s Integrated National Financing Strategy. This strategy marks a significant advancement in sustainable development financing in Egypt, aimed at enhancing economic growth and resilience amid global challenges.
