Dr. Rania Al-Mashat, Minister of International Cooperation, continued her bilateral and meetings with development partners and heads of international financing institutions, during the activities of the meetings of the 77th session of the United Nations General Assembly, with the aim of enhancing means of joint cooperation and supporting the national development vision, discussing preparations for the COP27 climate conference, and advancing the efforts of Transition to a green economy.
Minister of International Cooperation meets with Rita Joe Lewis, President of the US Export-Import Bank
US Export-Import Bank
During her meeting with Rita Joe Lewis, President of the US Export-Import Bank, EXIM Bank, the Minister of International Cooperation reviewed the axes of the national platform for green projects, the “Noufi” program, and ways to enhance the role of the private sector in implementing priority projects in the water, food and energy sectors, and the participation of a larger sector of companies. The US Department of State in the program, pointing out that the “Nawafi” program is a regional and international approach that aims to mobilize development funds and grant technical support and private investments in a way that enhances the country’s efforts to move from pledges to implementation.
Al-Mashat also discussed ways to advance areas of joint cooperation between the government and the American Export-Import Bank, as the Bank plays a vital role in financing the private sector and motivating it to participate in more projects. During the period from 2009-2019, the Bank financed projects to enhance trade and investment relations More than $5 billion for the private sector in Egypt.
Minister of International Cooperation meets Akinwami Adesina, President of the African Development Bank
President of the African Development Bank
The Minister of International Cooperation, Akinwami Adesina, also met with the President of the African Development Bank, where she affirmed the strong relations with the Bank to support development efforts and future prospects for cooperation within the framework of the joint Qatari strategy 2022-2026, which was launched during the activities of the Egypt Forum for International Cooperation and Development Finance in its second edition. Which aims to promote green transformation, support efforts to empower women and social inclusion, improve financial sector resilience and increase private sector participation in development.
Al-Mashat stressed that the next stage will witness greater coordination with the Bank regarding advancing green transformation efforts and promoting climate action in the continent of Africa, noting that Egypt is working to advance these efforts through the exchange of experiences and development experiences. Al-Mashat also discussed the bank’s role in the national platform for green projects, the “Noufi” program, and the joint cooperation in preparing the Sharm El-Sheikh Guide for Equitable Financing to stimulate climate finance on the continent, in the context of preparations for the COP27 climate conference.
Minister of International Cooperation meets Justin Mundy, Director of the Prince Charles Foundation for Sustainability
Prince Charles Foundation for Sustainability
In a related context, the Minister of International Cooperation met Justin Mundy, Director of the Prince Charles Foundation for Sustainability. During the meeting, Al-Mashat discussed the axes the country is working on to expand climate action efforts and expand sustainable energy in a way that stimulates the transition to a green economy under the umbrella of the National Strategy for Changes. climatic.
The Minister of International Cooperation also reviewed the ongoing preparations for Egypt’s hosting and presidency of the United Nations Climate Conference COP27, and the importance of Egypt’s hosting of this global event in order to stimulate climate action in the continent of Africa, and mobilize funding and global attention to the repercussions of climate change on the countries of the continent, pointing to Egypt’s launch of the national platform for projects The green “Nowfa” program, which includes projects in the areas of mitigation and adaptation to climate change, in the water, food and energy sectors, and efforts to stimulate climate finance through the Sharm El-Sheikh Guide to Equitable Finance.
United Nations Capital Development Fund
Dr. Rania Al-Mashat, Minister of International Cooperation, met with Priti Sinha, Executive Secretary of the United Nations Capital Development Fund, where they discussed ways to enhance joint cooperation in empowering the private sector and stimulating its participation in efforts to achieve development. The minister reviewed Egypt’s interest in investing in human capital through social safety nets, investing in the comprehensive health insurance system, and developing the education system. For her part, Ms. Preti commented that investing in human capital is part of sustainability efforts and represents a key focus of efforts to adapt to climate change by creating sustainable societies.
Multilateral Investment Guarantee Agency (MIGA), Citibank and HSBC
Dr. Rania Al-Mashat, Minister of International Cooperation, met with Jay Collins, Vice President of Citibank, Junaid Kamal Ahmed, Vice President of Operations at the Multilateral Investment Guarantee Agency (MIGA), Sarvish Suri, Director of Operations for Capital Markets, Climate and Energy, Mega Agency, and HSBC Bank officials.
During the meeting, they discussed ways to enhance joint cooperation, and stimulate innovative financing mechanisms and mixed financing to stimulate the participation of the private sector in development efforts. Al-Mashat also reviewed the axes of the national platform for green projects, the “Nowfi” program, which is witnessing great interest from development partners and the private sector in light of national efforts to promote the transition to a green economy. During the Egypt Forum for International Cooperation and Development Finance, two round tables were held to discuss all themes of the program, which witnessed International support from all partners, international institutions and climate alliances, which reflects its international character and its ability to support efforts to adapt to climate change.
Minister of International Cooperation during her meeting in New York
Rania Al-Mashat, Minister of International Cooperation, is participating in the meetings of the 77th session of the United Nations General Assembly, which is being held in New York, under the slogan “Solutions through Solidarity, Sustainability and Science”, amid unprecedented global repercussions due to the Russian-Ukrainian crisis, and the economic effects of the Corona pandemic, where she discusses The meetings dealt with a number of important issues that concern the international community, on top of which are food insecurity, the energy price crisis, and global supply chain disruptions.
It is worth noting that the Ministry of International Cooperation, in cooperation with the Ministries of Foreign Affairs, Finance and Environment, and the United Nations Economic Commission for Africa, organized the Egypt-ICF2022 Forum, in its second edition, and the meeting of African Ministers of Economy, Finance and Environment, under the auspices and presence of President Abdel Fattah El-Sisi. , where it witnessed a high-level international and regional presence from United Nations organizations, heads of international financial institutions, and the private sector. With the participation of more than 23 African governments, about 20 discussion sessions, workshops and round tables were held on unifying messages and visions, to mobilize the efforts of the international community to support the climate agenda in the continent of Africa, and to prepare for the “Finance Day”.