Rania Al-Mashat, Minister of International Cooperation, launched national consultations with the African Development Bank to prepare the new country cooperation strategy for the period 2022/2026, with the participation of Ahmed Zayed, Executive Director of Egypt and Djibouti at the African Development Bank, and Malin Bloomberg, Deputy Director of the Bank for North Africa and Resident Representative In Egypt, officials of the Ministry of International Cooperation, as well as representatives of more than 17 ministries and government agencies, including the Ministries of Housing, Transport, Local Development, Agriculture, Water Resources, Irrigation, Planning, Tourism, Communications, Higher Education, the General Authority for Financial Supervision and the General Authority for the Suez Canal Economic Zone.
This comes within the framework of the ministry’s role in managing, developing and strengthening economic cooperation relations with multilateral and bilateral development partners, to advance the national development vision and the government’s work program that is consistent with the UN goals for sustainable development 2030.
Dr. Rania Al-Mashat, Minister of International Cooperation, stressed the importance of launching these consultations, in which all relevant parties participate, in preparing and developing an ambitious strategy that reflects the state’s priorities and the government’s work program “Egypt Goes On”, and stimulates the role of the private sector in development, and is also consistent with the objectives of Sustainable development, explaining that the Ministry of International Cooperation is at the same time conducting consultations to prepare for the next five-year strategy with the European Bank for Reconstruction and Development, the World Bank and the United Nations, and it seeks through these simultaneous consultations to achieve integration and consistency between the future strategy with multilateral institutions in a way that maximizes the impact of these Partnerships and promotes the national development agenda.
The Minister of International Cooperation explained that the new strategy for cooperation with the Bank is intended to focus on strengthening development cooperation projects to support the implementation of the government program within the following main axes: improving the business environment and developing economic infrastructure in a manner that aims to achieve indicators of industrial and technological development, and developing skills to enhance sector investments. private sector, creating job opportunities, improving water use efficiency, developing and modernizing the agricultural sector to deal with food security requirements, and shifting towards green energy uses to meet the needs of the rapid population growth in Egypt.
Al-Mashat noted that the new strategy comes as a continuation of the strategy implemented between Egypt and the Bank during the period from 2015-2021, which contributed to developing infrastructure, supporting comprehensive and sustainable growth, enhancing transparency, governance and private sector participation, pointing out that the new strategy that began work on Its preparation is integrated with the Bank’s five strategic priorities, which are illuminating and strengthening energy sources in Africa, achieving food security in Africa, developing industry in Africa, achieving regional integration on the continent, and improving the standard of living of citizens in Africa.
The Minister of International Cooperation thanked the work team of the African Development Bank in Egypt, led by Malin Bloomberg, the resident coordinator, as well as the work team of the Ministry of International Cooperation, for the effort exerted for continuous coordination to implement development project agreements, and coordination with all concerned parties in this regard.
Al-Mashat said that Egypt is one of the founding members of the African Development Bank, and the development cooperation portfolio with the Bank exceeds $6.7 billion, through which more than 107 development projects have been funded, including $1.1 billion that was directed to finance projects for the private sector, explaining that the projects implemented with The African Development Bank comes within the framework of the vision of the Ministry of International Cooperation to put citizens at the center of attention, and implement ongoing projects, to achieve the goals of sustainable development.
The Minister of International Cooperation indicated the government’s keenness to strengthen joint work with the African Development Bank, to support national development efforts on the one hand, and to achieve regional integration with the countries of the African continent through joint projects, as well as to advance the role that the private sector can play in the development of the continent. Based on his experience gained from major national projects implemented in Egypt.
Commenting on the launch of the new strategy consultations, Ahmed Zayed, Executive Director of Egypt and Djibouti at the African Development Bank said, “I welcome the launch of consultations between Egypt and the African Development Bank on the new cooperation strategy. The Bank is one of the most important development partners with Egypt, and its programs and policies are consistent with regional and national priorities and issues. The Bank recently announced its commitment to allocate 15% of its financing for regional integration within the framework of the commitments of the seventh capital increase of the Bank, which represents an ideal opportunity to intensify the participation of the private sector, especially in light of the gap in infrastructure financing in Africa, estimated at about $100 billion annually.
Zayed was keen to congratulate Dr. Rania Al-Mashat, Minister of International Cooperation, on the success of the activities of the Egypt-ICF Forum, which was held last September, at the level of high-level attendance from all countries of the world and development partners, as well as the important recommendations that came out He indicated that the African Development Bank seeks to discuss and consult on these recommendations during the coming period.
During the meeting, Malin Bloomberg, Deputy Director of the African Development Bank for North Africa, reviewed the frameworks of development cooperation between Egypt and the African Development Bank and what was achieved in the previous strategy for the period 2015/2021, as well as the most prominent axes of work and coordination underway through the Ministry of International Cooperation, with government parties to develop Country strategy priorities 2022/2026.
Bloomberg also praised the efforts made to implement the previous strategy axes of cooperation with the bank during the period 2015-2021, and praised the strong performance of the Egyptian economy thanks to the implemented reforms program, as this performance was reflected in the high annual growth rates during the strategy period and helped control significantly in Inflation rates, low government debt, and commended efforts made for sustainable investment in supporting economic infrastructure and the commendable progress made in improving and developing the business environment.
Rania Al-Mashat, Minister of International Cooperation, had met Solomon Quinor, Vice President of the African Development Bank for the private sector, infrastructure and manufacturing, as part of the activities of the Egypt-ICF Forum, where she discussed relations of joint cooperation in various fields, including vaccine manufacturing and export For African countries as well as the projects being implemented, aspects of future cooperation between Egypt and the Bank and ways of benefiting from the resources available at the Bank were discussed. The discussion and review of the ongoing preparations for the preparation of the new country strategy were also discussed.
During the dialogue sessions and workshops, the Egypt-ICF discussed many topics that come on Africa’s Agenda 2063, with the aim of achieving integration and joint regional action, including a workshop on activating regional cooperation mechanisms in light of the African Free Trade Agreement, and security Food and employment in Africa in the era of digitalization, as well as triangular cooperation with Africa.
It is worth noting that the ongoing cooperation portfolio between Egypt and the African Bank amounts to $364.6 million, to finance 15 projects, including projects in the water and sanitation sector, entrepreneurship, renewable energy, industrial waste management, support the capacities of parliamentarians and develop slums. Development financing agreements to contribute to the financing of a number of projects, including an agreement worth 109 million euros to finance the integrated sanitation program in rural areas in Upper Egypt – Luxor, from which the Ministry of Housing will benefit, and another agreement worth 145 million euros to improve efficiency and safety factors on railways, from which the Ministry of Transport benefits.
The article “Al-Mashat” launches consultations with “African Development” to prepare for the country strategy 2022/2026 was written in Al Borsa newspaper.