Latest news with #E-INFS
See - Sada Elbalad
19-03-2025
- Business
- See - Sada Elbalad
Al-Mashat Reviews Egypt's Integrated National Financing Strategy
Israa Farhan H.E. Dr. Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, presented the details of Egypt's Integrated National Financing Strategy (E-INFS) during a high-level event held under the patronage of Prime Minister Dr. Mostafa Madbouly. The event was also attended by: Dr. Khaled Abdel Ghaffar, Deputy Prime Minister for Human Development and Minister of Health and Population; Mr. Ahmed Kouchouk, Minister of Finance; Dr. Maya Morsy, Minister of Social Solidarity; Engineer Sherif El Sherbini, Minister of Housing, Utilities, and Urban Communities; Mr. Mohamed Abdel Latif, Minister of Education and Technical Education; Ms. Elena Panova, UN Resident Coordinator in Egypt; Mr. Alessandro Fracassetti, UNDP Resident Representative; along with representatives from international financial institutions, ambassadors, and members of Parliament. The First Strategy of Its Kind H.E. Dr. Al-Mashat emphasized that the Integrated National Financing Strategy is the first of its kind in Egypt. It follows the global approach of the Integrated National Financing Framework (INFF), providing a cohesive national framework for financing and resource mobilization in line with the SDGs within Egypt's Vision 2030 and the Addis Ababa Action Plan. The strategy identifies financing gaps and improves resource allocation to priority sectors. Al-Mashat noted that around 86 countries have launched integrated national financing frameworks, many of which have successfully mobilized new sources of financing to achieve the SDGs. H.E. highlighted that the strategy is being implemented by the Ministry of Planning, Economic Development, and International Cooperation, in collaboration with the UN Resident Coordinator in Egypt and partner UN agencies: the United Nations Joint Fund for Financing the Sustainable Development Goals (the Joint SDG Fund), the United Nations Development Program (UNDP), the International Labor Organization (ILO), UNICEF, UN Trade and Development (UNCTAD), and UN Women. The strategy addresses three key questions: the financing needed to achieve the SDGs, current financial sources and flows, and opportunities to increase and diversify financing. Mobilizing Financing to Bridge Development Gaps Al-Mashat added that the strategy focuses on mobilizing sustainable financing to bridge financing gaps and mitigate financial risks. It promotes a transition from traditional financing mechanisms to comprehensive strategies aimed at achieving the SDGs. The strategy seeks to align public and private financing with Egypt's strategic priorities, encourage private sector investments, and increase the efficiency of public expenditures. It also aims to develop a roadmap for sustainable and innovative financing to mobilize public and private resources at both local and international levels. In March 2021, the Ministry, in partnership with the UN Resident Coordinator's Office in Cairo, signed the "Financing Strategy for the SDGs in Egypt" project, supported by the Joint SDG Fund. The strategy identified six priority sectors, including social protection, education, health, water, sanitation, transportation, and women's empowerment. Climate change was later added as a key sector due to its growing importance. Components of the Integrated National Strategy for Sustainability and Financing for Development H.E. outlined the strategy's main components, which include identifying financing gaps for priority sectors as a percentage of GDP until 2030, conducting a comprehensive analysis of public and private financing sources, and establishing a framework for investment policies. The strategy also seeks to enhance the investment environment by simplifying regulatory procedures, improving governance, and supporting public-private partnerships. Roadmap for Sustainable and Innovative Financing The strategy establishes a roadmap to enhance public and private resource flows by improving revenue collection efficiency, increasing budget transparency, and expanding innovative financing mechanisms. A governance approach ensures effective coordination between national entities through a supervisory committee and technical working groups. Follow-up and evaluation mechanisms will track progress toward achieving the SDGs. Al-Mashat emphasized that the government is committed to implementing reforms, including tax reforms, debt sustainability measures, promoting public-private partnerships in infrastructure projects, attracting foreign direct investment, and expanding innovative instruments like Islamic finance sukuk, sustainable development bonds, and venture capital. Institutional Integration H.E. discussed the institutional integration following the merger of the Ministry of Planning, Economic Development, and International Cooperation. This integration supports financing for development efforts by enhancing coordination and collaboration. The ministry plays a key role in preparing, implementing, and monitoring economic and social development plans to ensure investments align with development goals. The Ministry also chairs the Financing for Development Working Group, which estimates financing needs across various sectors and directs resources to them. The "NWFE" program was highlighted as a country platform combining innovative and blended financing mechanisms to drive climate and development efforts. The Integrated National Strategy in the Context of the Ministry Merger Al-Mashat emphasized that the merger of the ministries aligns financing strategies with national development priorities and provides a unified framework linking economic and social development plans with financing efforts. This integration enhances public spending efficiency, ensures sustainable financing, and maximizes the use of international partnerships. Addis Ababa Action Agenda 2015 Al-Mashat noted that the Addis Ababa Action Plan laid the foundation for national integrated financing frameworks in 2015, establishing a global framework for financing the 2030 Agenda for Sustainable Development. The plan emphasized the importance of national development strategies supported by integrated financing frameworks to mobilize the resources needed to achieve the SDGs. Many countries are aligning their national priorities with the SDGs, but strategies still require further refinement. H.E. concluded by highlighting the global significance of integrated national financing frameworks, especially in light of escalating debt challenges in developing countries. These frameworks provide a strategic approach for countries to manage financing sources, reduce reliance on external funding, enhance fiscal resilience, and support sustainable debt management policies. read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News Egypt confirms denial of airspace access to US B-52 bombers News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content Lifestyle Pistachio and Raspberry Cheesecake Domes Recipe Videos & Features Bouchra Dahlab Crowned Miss Arab World 2025 .. Reem Ganzoury Wins Miss Arab Africa Title (VIDEO) News Ireland Replaces Former Israeli Embassy with Palestinian Museum News Israeli PM Diagnosed with Stage 3 Prostate Cancer Lifestyle Maguy Farah Reveals 2025 Expectations for Pisces News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple
Zawya
19-03-2025
- Business
- Zawya
Egypt unveils national financing strategy to meet SDGs
Egypt has launched its National Integrated Financing Strategy (E-INFS) to help meet its Sustainable Development Goals (SDGs) by 2030. Prime Minister Mostafa Madbouly, speaking at the launch event on Tuesday, emphasised the importance of shared solutions to address pressing development challenges. Developed in partnership with the United Nations and the UN Development Programme (UNDP), the E-INFS aims to promote sustainable financing across key sectors to achieve Egypt's Vision 2030. 'Collaborative efforts are crucial to create economic opportunities that enhance the well-being of peoples,' Madbouly stated. The launch event included government ministers, including the Deputy Prime Minister for Human Development and the Minister of Health and Population, alongside the UN Resident Coordinator in Egypt, the UNDP Resident Representative, ambassadors, representatives of international organisations and UN agencies, members of parliament, and divs from the private sector and civil society. Minister of Planning and Economic Development and International Cooperation, Rania Al-Mashat, provided a detailed explanation of the strategy at one of the event's discussions. A further session addressed the implementation of the financing framework, with contributions from ministers and officials involved in financing in Egypt. Madbouly, in his address, highlighted the impact of global economic, health, humanitarian, and geopolitical crises on development and financing systems, leading to slower global growth, higher development financing costs, reduced resources, increased investment risks, and rising public debt. 'Financing development represents one of these common denominators,' Madbouly said, referencing reports that predict a $6.4 trillion development financing gap by 2030 without urgent global action. He also noted the increasing focus on development financing since the 2015 Addis Ababa Action Agenda on Financing for Development. He recognised the UN's 80 years of support for sustainable development in Egypt, aimed at reducing poverty, bolstering social protection, improving education and healthcare, promoting gender equality, empowering youth and women economically, mitigating climate change, and supporting agriculture and industry. Madbouly noted that Egypt was among the first to endorse the UN's SDGs in 2015 and has conducted three voluntary reviews of its progress. He also underscored Egypt's efforts to align development financing with the SDGs and localise the goals at the governorate level. The Prime Minister stated that the National Programme for Economic and Structural Reforms, launched in 2016, aims to enhance economic competitiveness, improve the business environment, strengthen macroeconomic resilience, support green transition, and foster sustainable development. While acknowledging the significant portion of the government budget allocated to development projects, Madbouly said that domestic financing remains limited compared to the scale of the 2030 targets. He called for accurate measurement of the costs involved and of both public and private financial flows. 'We are meeting to launch the National Integrated Financing Strategy in Egypt, which represents the comprehensive umbrella and governing framework for domestic and foreign development financing in Egypt,' Madbouly stated. The strategy targets development and financing gaps in seven key sectors: health, education, social protection, water, sanitation, transport, climate change, and women's empowerment. It also sets out a roadmap for sustainable and innovative financing by expanding public-private partnerships, strengthening green banking, and supporting financing for priority sectors. Looking ahead to the Fourth UN International Conference on Financing for Development in Spain, Madbouly said Egypt anticipates a review of the global financial system and the role of national integrated strategies in promoting inclusive and sustainable development. 'Egypt is committed to providing all support to the private sector and increasing its contribution to the state's total investments through a set of tools and policies that incentivise the private sector,' Madbouly concluded. He thanked the participating national entities, particularly the Ministry of Planning and Economic Development and International Cooperation, for their coordination efforts.
Daily News Egypt
18-03-2025
- Business
- Daily News Egypt
Egypt unveils national financing strategy to meet SDGs
Egypt has launched its National Integrated Financing Strategy (E-INFS) to help meet its Sustainable Development Goals (SDGs) by 2030. Prime Minister Mostafa Madbouly, speaking at the launch event on Tuesday, emphasised the importance of shared solutions to address pressing development challenges. Developed in partnership with the United Nations and the UN Development Programme (UNDP), the E-INFS aims to promote sustainable financing across key sectors to achieve Egypt's Vision 2030. 'Collaborative efforts are crucial to create economic opportunities that enhance the well-being of peoples,' Madbouly stated. The launch event included government ministers, including the Deputy Prime Minister for Human Development and the Minister of Health and Population, alongside the UN Resident Coordinator in Egypt, the UNDP Resident Representative, ambassadors, representatives of international organisations and UN agencies, members of parliament, and figures from the private sector and civil society. Minister of Planning and Economic Development and International Cooperation, Rania Al-Mashat, provided a detailed explanation of the strategy at one of the event's discussions. A further session addressed the implementation of the financing framework, with contributions from ministers and officials involved in financing in Egypt. Madbouly, in his address, highlighted the impact of global economic, health, humanitarian, and geopolitical crises on development and financing systems, leading to slower global growth, higher development financing costs, reduced resources, increased investment risks, and rising public debt. 'Financing development represents one of these common denominators,' Madbouly said, referencing reports that predict a $6.4 trillion development financing gap by 2030 without urgent global action. He also noted the increasing focus on development financing since the 2015 Addis Ababa Action Agenda on Financing for Development. He recognised the UN's 80 years of support for sustainable development in Egypt, aimed at reducing poverty, bolstering social protection, improving education and healthcare, promoting gender equality, empowering youth and women economically, mitigating climate change, and supporting agriculture and industry. Madbouly noted that Egypt was among the first to endorse the UN's SDGs in 2015 and has conducted three voluntary reviews of its progress. He also underscored Egypt's efforts to align development financing with the SDGs and localise the goals at the governorate level. The Prime Minister stated that the National Programme for Economic and Structural Reforms, launched in 2016, aims to enhance economic competitiveness, improve the business environment, strengthen macroeconomic resilience, support green transition, and foster sustainable development. While acknowledging the significant portion of the government budget allocated to development projects, Madbouly said that domestic financing remains limited compared to the scale of the 2030 targets. He called for accurate measurement of the costs involved and of both public and private financial flows. 'We are meeting to launch the National Integrated Financing Strategy in Egypt, which represents the comprehensive umbrella and governing framework for domestic and foreign development financing in Egypt,' Madbouly stated. The strategy targets development and financing gaps in seven key sectors: health, education, social protection, water, sanitation, transport, climate change, and women's empowerment. It also sets out a roadmap for sustainable and innovative financing by expanding public-private partnerships, strengthening green banking, and supporting financing for priority sectors. Looking ahead to the Fourth UN International Conference on Financing for Development in Spain, Madbouly said Egypt anticipates a review of the global financial system and the role of national integrated strategies in promoting inclusive and sustainable development. 'Egypt is committed to providing all support to the private sector and increasing its contribution to the state's total investments through a set of tools and policies that incentivise the private sector,' Madbouly concluded. He thanked the participating national entities, particularly the Ministry of Planning and Economic Development and International Cooperation, for their coordination efforts.
See - Sada Elbalad
19-02-2025
- Business
- See - Sada Elbalad
Egypt Launches Hub of Advanced Policy Innovation for Environment (HAPIE) in Collaboration with J-PAL
Ahmed Emam In partnership with the Abdul Latif Jameel Poverty Action Lab (J-PAL) in Cairo, Egypt's Minister of Planning, Economic Development, and International Cooperation, H.E. Dr. Rania A. Al-Mashat, attended the launch of the "Hub of Advanced Policy Innovation for the Environment (HAPIE)" —a groundbreaking initiative dedicated to enhancing access to clean air and water. HAPIE builds upon the success of the "Egyptian Impact Lab", a collaborative effort between J-PAL Middle East and North Africa at the American University in Cairo and Egypt's Ministry of Planning, Economic Development, and International Cooperation. This new hub is designed to foster data-driven policy solutions that address critical environmental challenges. During the event, Dr. Al-Mashat emphasized that HAPIE reflects Egypt's steadfast commitment to evidence-based policymaking, sustainable development, and climate action. She highlighted the Ministry's belief in data-driven policies, strategic partnerships, and innovative financing as essential tools for driving transformational change in the face of global challenges such as economic uncertainty, climate change, and social inequality. The Minister underscored the importance of ensuring that economic growth is not only quantitative but also qualitative, inclusive, and sustainable. She outlined the Ministry's vision, which is structured around three key pillars: 1. Evidence-Based Policy Design– Using data and research to guide strategic decision-making across key sectors. 2. Building a Future-Ready Economy – Strengthening macroeconomic stability, implementing structural reforms, and advancing the transition to a green economy. 3. Optimizing Resource Allocation – Mobilizing domestic and international financing through Egypt's Integrated National Financing Strategy for Development (E-INFS), developed in collaboration with the United Nations. Dr. Al-Mashat noted that these initiatives represent tangible steps toward a climate-resilient, economically vibrant, and socially inclusive future, reinforcing Egypt's leadership in global climate action. She reaffirmed Egypt's commitment to regional and international climate efforts, citing the country's successful hosting of COP27 in Sharm El-Sheikh and its role in championing climate-smart policies. At COP27, Egypt played a pivotal role in ensuring that Africa and other developing nations remained at the center of climate negotiations, leading to the establishment of the Loss and Damage Fund—a significant step in supporting vulnerable countries facing climate-related challenges. A key outcome of COP27 was the launch of the NWFE (Nexus of Water, Food, and Energy) program, a pioneering model that integrates sustainable development needs with innovative financing mechanisms. NWFE is advancing projects that enhance water security, food resilience, and renewable energy adoption, reinforcing Egypt's commitment to climate-aligned investments and its Nationally Determined Contributions (NDCs). HAPIE: Driving Collaborative Environmental Innovation HAPIE extends the work of the Egyptian Impact Lab by focusing on environment, energy, and climate change. It will serve as a collaborative platform where experts, policymakers, and practitioners can develop innovative, evidence-based solutions to environmental challenges, shaping the future of sustainable development in Egypt and beyond. This initiative reaffirms Egypt's leadership in climate governance and highlights its dedication to transforming policies into action through strategic partnerships and data-driven decision-making.
