Egypt prepares Integrated National Financing Strategy to foster sustainable development

Kamali further stated that the meeting reaffirms Egypt's keenness and belief in the financing issue.

By: Business Today Staff

Wed, Jun. 26, 2024

Deputy Minister of Planning and Economic Development, Ahmed Kamali, chaired the meeting of the Technical Committee responsible for preparing and monitoring Egypt's Integrated National Financing Strategy.

Kamali stated that the Integrated National Financing Strategy highlights Egypt's approach to financing sustainable development goals.

He noted that this strategy will evolve with further support from various United Nations agencies.

During the meeting, Kamali emphasized the importance of financing for achieving sustainability, whether through the Sustainable Development Goals or Egypt Vision 2030.

The Egyptian government recognized this in the Second Voluntary National Report in 2018, Kamali added.

Kamali further stated that the meeting reaffirms Egypt's keenness and belief in the financing issue.

 He discussed the need to transition from mere resource transfers to sustainable financing, which requires the restructuring of financial flows to achieve shared goals.

Kamali explained that Egypt has focused on five sectors, including health, education, sanitation, transportation, and social protection, with gender equality and climate change.

He added that Egypt pledged to increase the share of private sector investments from 28.2% in 2021 to 65% by 2030. By the end of this year, it is expected that this share will reach between 48 and 49%.