Latest news with #Mashat
Shafaq News
2 days ago
- Politics
- Shafaq News
'Hot summer' for Israel: Houthis vow more attacks after Sanaa raid
Shafaq News/ On Wednesday, Yemen's Houthi movement (Ansarallah) warned of a 'hot summer' for Israel following an airstrike on Sanaa International Airport. Houthi political leader Mahdi al-Mashat, who visited the site after the strike, pledged intensified retaliation and reaffirmed support for Palestinians in Gaza. 'We will not retreat or surrender.' Mashat also warned Israeli Prime Minister Benjamin Netanyahu that Yemeni missiles would bypass Israeli air defenses. 'Our missiles will reach their targets. Shelters will not protect you,' he asserted, adding that commercial flights to and from Ben Gurion Airport could also be at risk. The airstrike marked Israel's tenth on Yemen since the outbreak of the Gaza war, with previous raids targeting cement plants, energy infrastructure, and ports. However, Israeli media have reported growing domestic criticism over the raids' limited deterrent effect.
Egypt Independent
5 days ago
- Business
- Egypt Independent
Planning Minister says IsDB's new strategy approved at critical timing
Egyptian Minister of Planning, Economic Development and International Cooperation, and Egypt's Governor to the Islamic Development Bank (IsDB) Group, Rania Mashat said the bank's 2026-2035 development strategy has been passed at an important timing regionally and internationally. The minister's remarks came during her participation in the IsDB Group's 2025 Annual Meetings, held from May 19 to 22, in the Algerian capital Algiers under the theme 'Diversifying Economies, Enriching Lives.' Mashat voiced keenness on developing broader cooperation between Egypt and the bank to propel economic development efforts, increase human capital investments, and provide more funding tools to serve both local and foreign private sectors in Egypt. 'Egypt works on making use of the bank's new strategy to open new horizons of cooperation on supporting the private sector and financing projects of infrastructure, education, digital transition, renewable energy and adaptation to climate change,' the minister added.
Egypt Independent
20-05-2025
- Business
- Egypt Independent
Egypt to receive 4 Billion euros in EU budget support
Minister of Planning, Economic Development, and International Cooperation Rania al-Mashat announced that efforts are in place alongside the European Union (EU) to implement a macroeconomic support mechanism and support the state's budget deficit with a value of four billion euros. She affirmed the Egyptian government's appreciation for the economic partnership with the EU and the upgrade of relations to a strategic partnership. Mashat added that these efforts constitute vital support for the state's efforts to implement the ongoing structural reform program. During her meeting with the European Commissioner for International Partnerships, Joseph Sikela, Mashat discussed strengthening the strategic partnership between Egypt and the European Union. She highlighted sustainable development priorities, green transformation efforts, cooperation within the the 'Team Europe' initiative, and support for the NWFE program. Mashat added that technical discussions with the European side are ongoing in preparation for the upcoming assessment mission, ensuring consensus on reform priorities and enhancing the development impact of financing. The meeting also addressed the private sector investment guarantee mechanism and efforts to activate it to mobilize more European investments into the local market.
Egypt Independent
20-05-2025
- Business
- Egypt Independent
Egypt's Planning Ministry announces 4 billion euros in budget support from EU
Minister of Planning, Economic Development, and International Cooperation Rania al-Mashat announced that efforts are in place alongside the European Union (EU) to implement a macroeconomic support mechanism and support the state's budget deficit with a value of four billion euros. She affirmed the Egyptian government's appreciation for the economic partnership with the EU and the upgrade of relations to a strategic partnership. Mashat added that these efforts constitute vital support for the state's efforts to implement the ongoing structural reform program. During her meeting with the European Commissioner for International Partnerships, Joseph Sikela, Mashat discussed strengthening the strategic partnership between Egypt and the European Union. She highlighted sustainable development priorities, green transformation efforts, cooperation within the the 'Team Europe' initiative, and support for the NWFE program. Mashat added that technical discussions with the European side are ongoing in preparation for the upcoming assessment mission, ensuring consensus on reform priorities and enhancing the development impact of financing. The meeting also addressed the private sector investment guarantee mechanism and efforts to activate it to mobilize more European investments into the local market.
Egypt Independent
15-05-2025
- Business
- Egypt Independent
Mashat hold talks with IMF to secure US$ 1.3 billion financing from RSF
Egyptian Minister of Planning, Economic Development and International Cooperation Rania al-Mashat held a meeting with the International Monetary Fund (IMF) mission, headed by Ivana Vladkova Hollar. The meeting reviewed the reform measures that the Ministry intends to implement within a package of reforms scheduled to secure US$ 1.3 billion financing from the Resilience and Sustainability Facility (RSF). The meeting outlined three key reforms, which relate to climate-related standards and procedures in the project selection phase within the economic and social development plan. These expand the scope of projects under the Country Platform for Green Projects in the NWFE program, as well as for the asset registration pilot project, alongside conducting analyses of climate risks associated with the geographical location of these assets. Mashat assured that the Country Platform for the NWFE program is at the core of the measures implemented by the state as part of resilience and sustainability financing. She affirmed that the ministry, in its role of supervising and implementing the platform, has taken rapid and proactive steps to add new projects. Agreements and projects In March, a project was signed to construct a seawater desalination plant in Ain Sokhna as part of the water plans, and a second project was signed to develop the Zafarana plant as part of the energy plans, implemented by TAQA Arabia and Voltalia. An agreement was also signed between the ministry and the Norwegian company Scatec to cooperate in including Scatec's renewable energy projects within the energy pillar of the program. Scatec additionally signed a power purchase agreement with Egypt Aluminum to establish a one GW solar power plant to provide clean energy to the aluminum complex in Nagaa Hammadi. Mashat reviewed the implementation of the Country Platform for the 'NWFE' program, particularly regarding Egypt's energy pillar, which has attracted development financing for the private sector worth $3.9 billion in just two years to implement renewable energy projects with a capacity of 4.2 GW. The ministry seeks to increase financing to $10 billion to implement renewable energy capacities of about 10 GW, which supports Egypt's renewable energy capabilities. Egypt is eager to secure RSF funding from the IMF as part of its implementation of the National Climate Change Strategy 2050 and its Nationally Determined Contributions plan. In coordination with several ministries, the government is implementing a series of reforms under the RSF, which include focusing on: Accelerating decarbonization Analyzing climate-related financial risks Enhancing climate data and risk management, building adaptive capacity, strengthening the financial sector's resilience to climate change Supporting climate finance Identifying, measuring, and disclosing the impact of investment plans, programs, and projects on national climate change goals.
