Egypt calls for greater private sector role, debt swaps at G20 meeting

Zawya

a day ago

Egypt participated in the drafting and launch of the G20 Development Working Group Ministerial Declaration in South Africa, which called for enhancing domestic resource mobilisation and innovative financing mechanisms to address global challenges.
The declaration, issued at the conclusion of the ministerial meeting, affirmed that development financing is a core priority and highlighted the urgent need to address illicit financial flows and strengthen the role of multilateral financing.
Minister of Planning, Economic Development and International Cooperation, Rania Al-Mashat, represented Egypt at the meeting.
In her remarks, Al-Mashat highlighted the need to expand blended finance, public-private partnerships, and debt-for-development swap programmes, pointing to Egypt's experience with Italy, Germany, and China as a successful and replicable model.
She stressed the importance of allowing the private sector to play an effective role in development financing, improving the governance of international financial institutions, and strengthening the United Nations' role in global economic structuring. She also called for updating the basis for calculating Debt Sustainability Analysis (DSA) to ensure a fairer assessment for developing countries.
Between 2020 and May 2025, Egypt mobilised approximately $15.6bn for private sector financing from international partners, with $4bn allocated to the private sector within the 'NWFE' country platform, the ministry said.
Al-Mashat also noted Egypt's experience in launching the 'Country Approaches for Financing Sustainable Development and Climate Action' initiative, which it co-leads with South Africa and various U.N. and international bodies. The initiative aims for 100 countries to implement integrated financing programmes funded by public, private, and philanthropic sources by 2030.
'We look forward to translating the outcomes of the development ministers' meeting into effective practices and tangible policy progress to ensure a more sustainable future for all countries,' Al-Mashat said.
The G20 reaffirmed its commitment to the 2030 Agenda for Sustainable Development and its pledge to confront global challenges from debt to climate change and the SDG financing gap, which stands at an estimated $4.5 trillion annually.
Egypt has been a recurring guest nation at the G20 since 2016. South Africa, which holds the G20 presidency until November 2025, has invited Egypt to participate in working groups and ministerial meetings for the duration of its tenure.