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Rania Al-Mashat: The Corona pandemic has shown the importance of international cooperation to support the progress of countries


Dr. Rania Al-Mashat, Minister of International Cooperation, participated in the panel discussion that was held within the activities of the seventh annual conference of the Economic Research Forum under the title “Opportunities and Challenges on the Future of Development Finance”, to discuss the role that development finance plays in advancing countries’ progress towards achieving the sustainable development goals, according to For its national priorities, the session was moderated by Dr. Eric Berglove, Chief Economist at the Asian Infrastructure Investment Bank.


Dr. Rania Al-Mashat, Minister of International Cooperation, said that despite the economic and social challenges caused by the Corona pandemic, it has strengthened interest in international cooperation and development financing as a tool for solving global problems and accelerating the progress of countries towards achieving sustainable development goals.

 

Al-Mashat indicated that the Ministry of International Cooperation launched at the beginning of 2020 the principles of economic diplomacy for the Arab Republic of Egypt, to direct international cooperation and development financing towards achieving national priorities, through three principles: the platform for joint coordination, and matching development funds with the UN goals for development. Sustainable, listed international posts.

 

The Minister of International Cooperation explained that development finance has become a major tool for multilateral and bilateral development partners to finance development in different countries, and support the implementation of projects that represent a national priority, such as transport, infrastructure, energy, gender equality and others, noting that the sustainable development goals have become a common denominator. And a consolidated guide for both the international financial institutions and the countries receiving the funds.

 

She stated that the Ministry of International Cooperation, by matching development finances with the sustainable development goals, enabled the Egyptian state to measure the progress made towards achieving the various goals, identify priority areas and identify the gaps in some goals to design future partnerships to reflect the priorities and goals of the state, explaining that by the end of 2020 it was 98% of the projects implemented within the ongoing portfolio of the Ministry of International Cooperation are progressing well.

 

She noted that the principles of economic diplomacy of the Arab Republic of Egypt reflect the extent of the state's commitment to governance, transparency and effective communication with development partners and citizens, and the strengthening of partnerships with relevant parties to unify and coordinate efforts in order to achieve sustainable development goals, stressing that even in light of the Corona pandemic, development efforts made by Before the state, there was complete integration and coordination with development partners during the past year.

 

And she added that among the most important projects that the state focuses on are environmentally friendly projects that promote transformation towards a green economy, for example, one of the largest solar power plants in the world is being implemented in Benban, Aswan, with 32 companies from 12 countries participating in its implementation. She added that the ministry is working, through the joint coordination cooperation platform, to shed light on national efforts to transition towards a green economy and the role of development partners in this transformation.

 

The Minister of International Cooperation also touched on the holding of the joint coordination platform for the transport sector, which is one of the sectors that are witnessing great development in terms of technological development and infrastructure sustainability, and many mega projects are being implemented such as dry ports, the electric train, the development of metro lines and other projects.

 

It is worth noting that Dr. Rania Al-Mashat, Minister of International Cooperation, recently launched the book "Principles of Economic Diplomacy for the Arab Republic of Egypt to Strengthen International Cooperation and Development Finance", through which the pioneering Egyptian experience in development finance was documented, through the London School of Economics, and the full map was also launched. To match development finances with the UN Sustainable Development Goals.

 

The 27th Annual Conference of the Economic Research Forum was held to discuss “Sustainable Development Goals and External Shocks in the Middle East and North Africa: Resilience after the COVID-19 Pandemic.

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