International Cooperation Ministry Holds 'Development Finance to Foster Private Sector-Led Growth & Jobs' High-Level Event Tomorrow
Nada Mustafa
The Ministry of Planning, Economic Development and International Cooperation will hold the "Development Finance to Foster Private Sector-Led Growth & Jobs" conference tomorrow, Sunday, in the New Administrative Capital.
The event is under the patronage of the Prime Minister, H.E. Dr. Mostafa Madbouly, and features the participation of a large number of ministers, development partners, the European Union in Egypt, international institutions, and private sector companies.
The conference will highlight development finance efforts undertaken over the past five years to empower the private sector and promote its role in economic growth and job creation. Mechanisms for financing and new agreements in partnership with development partners to finance the private sector in Egypt will also be announced. In addition, a number of new project agreements will be signed between the private sector and development partners, and the expansion of the Hub for Advisory Finance and Investment for Enterprises.
H.E. Dr. Rania A. Al-Mashat, Minister of Planning, Economic Development and International Cooperation, emphasized that the conference sheds light on development finance, which remains one of the most vital tools due to its diversity in direct and indirect investments, risk mitigation tools, investment guarantees, and technical support, thus playing a catalytic role for private sector investments.
H.E. Minister Al-Mashat added that over the past five years, the Ministry of Planning, Economic Development and International Cooperation has established a framework for economic diplomacy to advance and develop economic relations with multilateral and bilateral development partners. This has contributed to increasing financing directed towards the private sector. She affirmed that the state's continued implementation of the National Structural Reform Program and the adoption of measures to improve and prepare the business environment will open up more opportunities for the private sector to contribute to economic growth and employment. It also enhances its attractiveness to international financing institutions that provide development financing and both direct and indirect investments to bridge the development financing gap.
The sessions will explore ways to empower the private sector through an integrated system that includes improving the business environment, supporting competitiveness, as well as developing its institutional capabilities. Additionally, they will touch on facilitating access to various financing tools, whether in the form of development finance, equity partnerships, and technical support tailored to the needs of each sector.
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