Latest news with #IntegratedNationalFinancingFramework
See - Sada Elbalad
3 days ago
- Business
- See - Sada Elbalad
PM Delivers Speech at Launch Event of "Seville Platform for Action"
Rana Atef Today, Dr. Mostafa Madbouly, Prime Minister of Egypt, participated on behalf of His Excellency President Abdel Fattah El-Sisi, President of the Republic, in the launch event of the "Seville Platform for Action", part of the program of the Fourth United Nations Conference on Financing for Development, hosted by the Spanish province of Seville. The event was attended by Mr. António Guterres, Secretary-General of the United Nations; Mr. Pedro Sánchez, Prime Minister of Spain; Dr. Rania Al-Mashat, Minister of Planning, Economic Development and International Cooperation of Egypt; and a number of senior officials. In their speeches during the event, both the UN Secretary-General and the Spanish Prime Minister stressed the importance of mobilizing the necessary financing to achieve the Sustainable Development Goals (SDGs), the need for all parties to collaborate in this endeavor, and support for developing countries in their development efforts. They also emphasized the significance of launching the Seville Platform for Action. Dr. Mostafa Madbouly, Prime Minister of Egypt, also delivered a speech at the event, beginning by saying: 'I am pleased to be with you today at the launch of the 'Seville Platform for Action', an initiative that comes at a critical moment. Its goal is to bring together governments, financial institutions, development partners, the private sector, and all stakeholders to assess challenges, share experiences, and present innovative solutions — to put the world back on track and accelerate progress towards the SDGs.' Dr. Madbouly expressed appreciation for Egypt's active role in the initiative, which recognized the country as a successful development model — particularly for its use of the Integrated National Financing Framework (INFF) to coordinate reforms, investments, and the implementation of Egypt Vision 2030, and for mobilizing financing through the innovative national platform NWFI (Novi). This platform focuses on attracting investment and financing for high-return projects in the water, food, and energy sectors. In this context, the Prime Minister noted that the Integrated National Financing Framework serves as a central tool for prioritizing investments, mapping the financing landscape, and improving resource allocation. He added that the framework prioritizes key sectors for accelerating sustainable development — especially education, health, social protection, water and sanitation, and transport — while also addressing critical issues such as environmental sustainability and gender equality. Dr. Madbouly continued: 'This framework is a key pillar of several initiatives dedicated to promoting multidimensional sustainable development and inclusive community partnerships. Chief among them is the 'Takaful and Karama' program — a presidential initiative launched in 2015 to support poor families, focusing on human capital development through conditional and unconditional cash transfers. This program promotes social protection, education, and health, and is recognized internationally as an effective model of social protection.' He went on to highlight another success story — the presidential initiative 'Hayah Karima' (Decent Life), launched in 2019, which stands as Egypt's national project for developing rural areas. The initiative aims to improve the daily living conditions of Egyptians through the delivery of integrated services. It benefits more than 60 million citizens across over 4,500 villages. The Prime Minister concluded his remarks by reaffirming that effective international development cooperation has become essential to achieving the SDGs by 2030, stating: 'We look forward to the full activation of the 'Seville Platform for Action', which can help move from commitments to tangible results on the ground. We will work constructively with other countries and development partners to make this platform a successful model for knowledge exchange and the adoption of best practices — ensuring that no one is left behind.' 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 China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War News Flights suspended at Port Sudan Airport after Drone Attacks Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream News Shell Unveils Cost-Cutting, LNG Growth Plan Technology 50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean Arts & Culture "6 Ayam" Sets Streaming Date
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 .. 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