Water Conservation: 7 Simple Ways to Save Water at Home and in Your Business
Water is one of our most precious resources, yet it is often wasted without thought. ...
UNDP envoy lauds launch of Egypt’s INFS as significant milestone in advancing sustainable development
Resident Representative of the United Nations Development Program (UNDP) Alessandro Fracassetti lauded the launch of Egypt’s Integrated National Financing Strategy (INFS) as a significant milestone in advancing sustainable development.
Egypt is taking a bold step toward shaping a financial future that is both sustainable and inclusive, he highlighted.
“With just five years remaining to achieve the Sustainable Development Goals, it’s crucial that we accelerate our efforts to meet the objectives of the 2030 Agenda,” he said.
“Egypt is leading the way in the region by introducing innovative financing tools, becoming the first to launch an Integrated National Financing Framework,” he underscored.
“Through initiatives such as green bonds, sustainability bonds, and NWFE, Egypt is well-positioned to attract private investment and leverage green finance mechanisms,” he said.
“The UNDP is very proud to have supported the development of Egypt’s Integrated National Financing Strategy, which we are launching today,” he added.
The Strategy comes at a critical time, he noted.
“While structural reforms have helped establish a foundation for stability and growth, challenges such as high capital costs, public debt, and limited private investment in the SDGs still remain,” he expounded.
He explained that Egypt’s INFS focuses on three key areas of change in the country’s financing landscape; namely Sustainable Investment as finance must be directed not only by economic considerations but also by its impact on key areas like climate change, poverty reduction, and gender equality to name but a few; Private Sector Engagement as the strategy prioritizes private sector involvement, aiming to enhance financial effectiveness and attract long-term investment to support Egypt’s development priorities; and Whole-of-Government Approach: It advocates for a coordinated approach, involving development partners and international financing institutions, to align financial flows with national priorities, backed by a clear monitoring framework.
UNDP is fully committed to supporting the Government of Egypt in operationalizing this strategy through targeted initiatives; including Tax Reforms as we look forward to contributing to the Strategy implementation through supporting the Ministry of Finance on tax reforms, through our Tax4SDGs initiative, strengthening domestic resource mobilization; Green Bonds Initiative as Together with the Ministry of Finance, and Ministry of Environment, we will help bring to Egypt the Global Green Bonds Initiative, a global partnership between UNDP, the Global Climate Fund and European Investment Bank, to expand concessional green financing to Egypt, alongside 8 other countries globally; and Insurance and Risk Financing as through our Insurance and Risk Financing initiative, we are working with the Financial Regulatory Authority, Ministry of Finance, and international partners to enhance financial resilience, he added.
“Private sector engagement remains critical. Over the next year we will operationalize the Egyptian Red Sea financing facility, with the Ministry of Environment, and development partners. This initiative will aim to attract private sector investments to protect Egypt’s precious coral reefs,” he said.
He highlighted also the importance of global partnerships as “We are also leveraging our global partnerships, such as PISTA with Rome Center and Italy to promote investments in Egypt’s energy efficiency, & LoCAL with UN Capital Development Fund “UNCDF” to facilitate local-level financing where it is needed the most.”
He also underlined the importance of the SDG Investor Maps “which we are currently developing in coordination with the MOPEDIC, to promote impact investing in high priority sectors for Egypt and look forward to launch soon.”
“These initiatives are already underway, reinforcing our shared commitment to sustainable financing in Egypt.”
Egypt’s financing needs will continue to evolve.
This is why this strategy is designed to be adaptive — ensuring alignment with economic realities.
Its success depends on a joint effort; government leadership, private sector participation, international partnerships, and a solid monitoring system for strategy implementation, he said.
“Let me finally extend my deepest appreciation to the Government of Egypt and in particular the Ministry of Planning, Economic Development and International Cooperation for leading a “whole-of-government” approach in the development of this strategy,” he said.
“I would also like to thank all international partners for their valuable contributions, particularly the Governments of Spain and Italy for their pledged support to operationalizing the financing strategy. Their seed funding will be instrumental in scaling up innovative financing solutions,” he added.
“Egypt’s INFS reflects a strong commitment to Agenda 2030 is not just a document- it is a roadmap with a vision to mobilizing the resources necessary for sustainable, inclusive growth. We look forward to continued collaboration to turn this vision into action,” he concluded.
اترك تعليقا