Egypt witnesses launch of two COP29 initiatives on sustainable energy, green skills
Egypt’s Minister Rania Mashat has witnessed the launch of two international initiatives on sustainable energy ...
Infrastructure, water, clean energy highest SDGs receiving ODA in Egypt
Minister of International Cooperation Rania Al Mashat said the highest sustainable development goals (SDGs) in receiving the Official Development Assistance (ODA) financing in Egypt were SDG 9: Industry, Innovation and Infrastructure amounting to $5.9 billion, making up for 22.3% of the portfolio, SDG 6: Clean Water and Sanitation amounting to $5.3 billion, making up for 20.3% of the portfolio, and SDG 7: Affordable and Clean Energy amounting to $4.6 billion, making up for 17.5% of the portfolio.
The minister stated that the objectives of the country-led multi-stakeholder engagement framework is to maximize socioeconomic returns from Official Development Assistance (ODA), to ensure alignment of development interventions with national objectives as well as with the SDGs, and to enhance the management of development cooperation for better implementation of development projects within Egypt.
Regarding the second principle of the country-led multi-stakeholder engagement framework, Al-Mashat shared the Ministry’s efforts in mapping the ODA to the SDGs, explaining how each project contributes to the implementation of the global goals and national objectives by 2030. She also added that an interactive map was published on the Ministry’s website that includes the current ongoing development portfolio of development financing, distributed across sectors, SDGs, and governorates.
The results of the ODA-SDG Mapping in 2021, showed that the ongoing portfolio includes 372 projects amounting to $26.5 billion, supporting Egypt’s efforts in accelerating development.
The Ministry of International Cooperation’s 2021 Annual Report “Engaging For Impact Towards our Common Future” detailed that the total development financing in 2021 amounted to $10.2 billion, including $8.7 billion directed to public sector development and $1.57 billion directed to private sector development, all dedicated to supporting Egypt’s development vision and the UN SDGs.
Mashat also noted that the cooperation efforts with development partners during 2020 and 2021 amounted to $20 billion in development financing.
Mashat reviewed development cooperation efforts with its multilateral and bilateral partners in support of the state’s development plans, in line with the transition towards a green economy, alongside presenting the strategic relations between Egypt and France.
Egyptian-French relations are reflected across all areas of development, and includes enhancing and encouraging partnerships between the private sector of both countries. In 2021, the development financing signed with France amounted to €1.7 billion.
Mashat reviewed the development cooperation efforts with multilateral and bilateral development partners, in support of the country’s development plans across fields, and in line with the transition towards a green economy.
She also addressed the country-led multi-stakeholder engagement framework and development financing secured in 2021; explained in more detail in the Ministry’s 2021 Annual Report “Engaging For Impact Towards Our Common Future”, while also spotlighting the Egyptian-French strategic relations and agreements signed in the past year.
This discussion took place during a meeting organized by the French Chamber of Commerce, alongside the presence of the French Ambassador in Cairo Marc Baréty and members from the chamber, in celebration of its 30th anniversary since its establishment; strengthening Egyptian-French relations.
Mashat explained the country-led multi-stakeholder engagement framework consists of 3 principles including, hosting multi-stakeholder platforms to coordinate and consolidate relations with multilateral and bilateral development partners.
This played a key role during the COVID-19 pandemic where multi-stakeholder platforms supported strengthening partnerships between Egypt and its partners in 2020 and 2021, as various sectors were addressed such as, transportation, energy, small and medium enterprises, health, private sector, digitalization, and investment in human capital. The results of these multi-stakeholder platforms have been reflected in development cooperation agreements with development partners and relevant national entities.
Mashat also explained that the third principle of the country-led multi-stakeholder engagement framework is to promote Egypt’s development stories in international forums, and by preparing promotional content of projects done in cooperation with developing partners.
The minister also addressed the long history of relations between Egypt and France, reflected across many areas of development cooperation. The total economic cooperation portfolio since 1974 amounts to €7.5 billion through 42 protocols that support development. In December 2020, President Abdel Fattah El Sisi visited France, during which he met with French President Emmanuel Macron, where a number of development agreements were signed.
During the French Minister of Economy and Finance Mr. Bruno Le Maire’s visit in June 2021, and Rémy Rioux, Chief Executive Officer of the Agence Française de Développement (AFD), alongside their accompanying delegation, new development financing agreements were signed in light of the 2021-2025 strategy, amounting to €1.76 billion; including €776 million from the French Treasury and €990 million from the AFD. This development financing is secured for development projects for transport, agriculture, water and sanitation, electricity, and energy sectors.
Mashat elaborated that Egyptian-French cooperation paves the way for more partnerships between the private sector of both countries. The total amount of French investment in Egypt amounts to $5.5 billion in various fields including, infrastructure, industry, renewable energy, telecommunications and information technology, banking, and insurance.
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