Latest news with #PlanningandEconomicDevelopment
See - Sada Elbalad
2 days ago
- Business
- See - Sada Elbalad
Egypt's PM Meets German Minister to Discuss Development Cooperation
H-Tayea Egypt's Prime Minister Mostafa Madbouly held a meeting on Sunday with Reem Alabali-Radovan, the newly appointed Federal Minister for Economic Cooperation and Development of Germany. The meeting took place in New Alamein City and was attended by Minister of Planning and Economic Development Dr. Rania Al-Mashat and Foreign Minister Dr. Badr Abdel Aaty. At the outset of the meeting, Prime Minister Madbouly extended his warm welcome to the German minister and congratulated her on her new position, also offering best wishes for the success of the new German government. He noted that her visit to Egypt — particularly to New Alamein — reflects the strength and depth of Egyptian-German relations. He also highlighted the many areas in which the two nations have been cooperating, both bilaterally and in addressing broader Middle East issues. Madbouly emphasized that the longstanding partnership between Egypt and Germany is built on mutual interests and shared commitments to advancing sustainable development goals. He noted that Germany's development cooperation programs in Egypt focus on several vital areas, including the expansion of renewable energy, improved energy efficiency, technical and vocational education, water resource management, and private sector development. The Prime Minister also pointed out that Egypt and Germany have recently taken tangible steps to broaden their cooperation, through economic and development agreements, debt swap programs, and joint initiatives aimed at supporting national priorities. He reaffirmed Egypt's commitment to deepening this strategic relationship and expanding the scope of cooperation across all sectors. Madbouly expressed his hope that Germany would continue to play a supportive role in enhancing Egypt's ties with the European Union, and that the two countries would jointly pursue initiatives that benefit not only both peoples, but also the wider region. 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 Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters News China Launches Largest Ever Aircraft Carrier Arts & Culture "Jurassic World Rebirth" Gets Streaming Date 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 Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle News "Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence" Sports Get to Know 2025 WWE Evolution Results News Flights suspended at Port Sudan Airport after Drone Attacks
Daily News Egypt
2 days ago
- Business
- Daily News Egypt
Egypt, Germany discuss strengthening cooperation and the Gaza crisis
Egyptian Prime Minister Moustafa Madbouly met on Sunday with Germany's new Federal Minister for Economic Cooperation and Development, Reem Alabali-Radovan, to discuss deepening their bilateral partnership, with a focus on sustainable development and the humanitarian crisis in the Gaza Strip. During the meeting in New Alamein City, the German minister affirmed her country's support for Egypt's efforts regarding the situation in Gaza, backing the two-state solution and rejecting the displacement of Palestinians. Madbouly stated that the long-standing partnership between the two nations is built on shared interests and a commitment to advancing sustainable development. 'The long-term partnership between Egypt and Germany is based on common interests and mutual commitments to advance sustainable development efforts,' Madbouly said, noting that German development cooperation with Egypt focuses on expanding renewable energy, enhancing energy efficiency, developing technical education, improving water resource management, and strengthening the private sector. The meeting was also attended by Egypt's Minister of Planning and Economic Development, Rania Al-Mashat, and Minister of Foreign Affairs, Badr Abdelatty. The German minister, on her first visit to Egypt, expressed her confidence that the visit would yield positive results for the mutual interests of both countries. 'Reem Alabali-Radovan affirmed the strength and diversity of the relations that bind Egypt and Germany in various fields, especially economic,' a government statement said. On the regional situation, the minister stated that her visit 'confirms Germany's support for the Egyptian role regarding the humanitarian crisis in the Gaza Strip, renewing her country's support for the two-state solution and its rejection of the displacement of Palestinians from their land.' Madbouly noted that Egypt and Germany had recently taken practical steps to expand their cooperation, signing economic and development agreements alongside debt-swap programmes and other joint initiatives. He expressed Egypt's keenness to broaden cooperation and its hope for Germany's support for Egyptian-European relations within the framework of theEuropean Union. During the meeting, Planning Minister Rania Al-Mashat said the bilateral economic cooperation portfolio between Egypt and Germany amounted to about 1.6 billion euros. She stated these funds aim to implement development projects in priority sectors such as energy, climate, water supply, sanitation, irrigation, migration, solid waste management, and enhancing private sector competitiveness. Al-Mashat also expressed her aspiration to diversify cooperation frameworks and attract more German investment, technical support, and expertise to support the resilience of the Egyptian economy and its economic reform programme. Foreign Minister Badr Abdelatty expressed his hope to elevate bilateral relations to the level of a strategic partnership and stressed the importance of attracting more German investment to Egypt, particularly in light of the improving investment climate. Abdelatty also addressed the economic burdens on Egypt from hosting more than 10 million migrants and refugees, expressing his hope for support to alleviate these pressures and enhance cooperation on migration issues. He outlined Egypt's efforts to reach a ceasefire in Gaza and said he looked forward to Germany's high-level participation in a post-ceasefire recovery and reconstruction conference for the strip.
See - Sada Elbalad
2 days ago
- Business
- See - Sada Elbalad
Egypt's PM Leads High-Level Meeting to Boost U.S.-Egypt Economic Cooperation
Ahmed Emam Egyptian Prime Minister Mostafa Madbouly chaired a high-level meeting on Sunday to follow up on efforts to deepen economic cooperation between Egypt and the United States, emphasizing the importance of leveraging the strategic and longstanding ties between the two nations. The meeting brought together key cabinet members including Minister of Planning and Economic Development Rania Al-Mashat, Minister of Foreign Affairs and Egyptian Expatriates Badr Abdelatty, and Minister of Investment and Foreign Trade Hassan El-Khatib. Vice Prime Minister for Industrial Development and Minister of Industry and Transport Kamel El-Wazir participated via video conference, along with other senior officials. In his address, Madbouly stressed the government's commitment to removing any barriers hindering joint economic projects and called for identifying concrete initiatives for future collaboration. He also highlighted Egypt's favorable investment climate, noting the broad incentives offered to foreign investors, particularly U.S. companies. 'Egypt is eager to expand its economic partnership with the United States, and we are committed to creating the conditions necessary for American businesses to thrive here,' Madbouly said. In turn, Foreign Minister Abdelatty outlined the diplomatic efforts underway to strengthen bilateral ties, both on the economic front and in relation to broader regional dynamics. He underscored the Foreign Ministry's active role in promoting cooperation with Washington across multiple sectors. Joining remotely, Minister El-Wazir presented updates on current consultations with U.S. firms, particularly in the areas of port development, maritime transport, and industrial zones—sectors where Egypt is seeking strategic foreign investment. Minister Al-Mashat reviewed ongoing development cooperation programs funded by the U.S. Agency for International Development (USAID), which support key priorities in Egypt's national development plan. She noted that these programs play a vital role in education, health, infrastructure, and economic inclusion. El-Khatib, Minister of Investment and Foreign Trade, detailed recent efforts to promote trade and attract U.S. investment into Egypt's economy. He pointed to expanding opportunities in sectors such as manufacturing, clean energy, and digital innovation. The Prime Minister concluded the meeting by instructing all relevant agencies to coordinate in preparing a comprehensive package of promising investment opportunities to present to American companies, with the goal of expanding U.S. economic presence in Egypt. 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 Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters News China Launches Largest Ever Aircraft Carrier Arts & Culture "Jurassic World Rebirth" Gets Streaming Date 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 Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle News "Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence" Sports Get to Know 2025 WWE Evolution Results News Flights suspended at Port Sudan Airport after Drone Attacks
See - Sada Elbalad
11-07-2025
- Business
- See - Sada Elbalad
Al Mashat Attends Farewell Ceremony for British Amb. in Cairo
Taarek Refaat Rania Al-Mashat, Minister of Planning and Economic Development participated in a farewell reception for British Ambassador Gareth Bayley, organized by the Egyptian-British Business Association. The event, held to mark the end of Ambassador Bayley's tenure in Egypt, was attended by prominent public figures and members of the Egyptian and British business communities. In her speech, Al-Mashat praised Ambassador Bayley's pivotal role in strengthening Egyptian-British economic relations since his arrival in 2021. She highlighted the Ambassador's efforts in fostering partnerships between the private sectors of both nations, notably through cooperation with the British International Investment (BII) and the fruitful bilateral collaboration between the governments of Egypt and the United Kingdom. Al-Mashat also reflected on the continued progress in Egyptian-British development cooperation, emphasizing the United Kingdom's support for the launch of Egypt's "Novee" National Platform. Additionally, the UK has contributed to the "Hafiz" platform, which provides both financial and technical support to Egypt's private sector. These efforts align with the two nations' joint goals of diversifying innovative financing sources for both public and private sectors, as well as supporting small and medium-sized enterprises (SMEs) and climate-focused startups. The Minister highlighted that the UK's commitment to Egypt's green transformation has been reflected in its support for climate-related financing mechanisms, such as the Climate Finance Acceleration Program, developed in collaboration with both the government and the private sector. In his farewell address, Ambassador Bayley expressed his sincere gratitude to the Egyptian government and people for the warm hospitality he received during his tenure. He acknowledged the longstanding and historical relationship between Egypt and the UK, underscoring the depth of cooperation between the two nations, both at the governmental and private sector levels. Bayley also pointed to several UK-supported projects in Egypt, such as the "Novee" National Platform, which plays a crucial role in attracting climate investments and advancing Egypt's green transformation agenda. He also emphasized the UK's contributions to energy and food security through various programs, including its role in the food sector within the Novee framework, through the International Partnership for Integration. 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 Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters 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 "Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence" News Flights suspended at Port Sudan Airport after Drone Attacks Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream Arts & Culture Hawass Foundation Launches 1st Course to Teach Ancient Egyptian Language
Scoop
02-07-2025
- Business
- Scoop
Drowning In Debt: New Forum In Sevilla Offers Borrowers Chance To Rebalance The Books
2 July 2025 The Borrowers' Forum is being hailed as a milestone in efforts to reform the international debt architecture, supported by the UN and emerging as a key part of the Sevilla Commitment outcome document. 'This is not just talk - this is execution,' said Egypt's Minister of Planning and Economic Development, Dr Rania Al-Mashat. ' The Borrowers' Forum is a real plan, driven by countries, to create a shared voice and strategy in confronting debt challenges.' Rebeca Grynspan, Secretary-General of UN Trade and Development (UNCTAD), said developing nations often face creditors as a united bloc while negotiating alone. 'Voice is not just the ability to speak — it's the power to shape outcomes. Today, 3.4 billion people live in countries that pay more in debt service than they do on health or education.' The forum – one of 11 recommendations by the UN Secretary-General's Expert Group on Debt – will allow countries to share experiences, receive technical and legal advice, promote responsible lending and borrowing standards, and build collective negotiating strength. Its launch addresses long-standing calls from the Global South for more inclusive decision-making in a debt system dominated by creditor interests. 'Silent but urgent' Zambia's Foreign Minister, Mulambo Haimbe, told journalists the initiative would foster 'long-term partnerships, mutual respect and shared responsibility' and expressed his country's willingness to host an early meeting. Spain's Finance Minister Carlos Cuerpo described the current debt crisis as 'silent but urgent,' and called the Forum a 'Sevilla moment' to match the Paris Club of creditors, created nearly 70 years ago. UN Special Envoy on financing the 2030 Agenda Mahmoud Mohieldin said the forum was a direct response to a system that has kept debtor countries isolated for too long. ' This is about voice, about fairness – and about preventing the next debt crisis before it begins.' The launch comes at a time of rising debt distress across the developing world. The commitment – known in Spanish as the Compromiso de Sevilla – adopted by consensus at the conference, includes a cluster of commitments on sovereign debt reform. Alongside support for borrower-led initiatives, it calls for enhanced debt transparency, improved coordination among creditors, and the exploration of a multilateral legal framework for debt restructuring. It also endorses country-led debt sustainability strategies, debt payment suspension clauses for climate-vulnerable nations, and greater support for debt-for-nature and debt-for-climate swaps – albeit with stronger safeguards and evidence of impact. Frustration over 'missed opportunity' to tackle debt crisis Civil society groups on Wednesday sharply criticised the adopted outcome in Sevilla, calling it a missed opportunity to deliver meaningful reform of a global debt system that is crippling many developing nations. Speaking at a press briefing inside the conference, Jason Braganza of the African Forum and Network on Debt and Development (AFRODAD) said the final outcome document adopted on day one – the Sevilla Agreement – fell far short of what was needed. ' This document did not start with much ambition and still managed to be watered down,' he said. 'Nearly half of African countries are facing a debt crisis. Instead of investing in health, education and clean water, they're paying creditors.' Mr. Braganza praised the leadership of the African Group and the Alliance of Small Island States, which fought for a UN Framework Convention on sovereign debt. 'False solutions' Although that ambition was not fully realised, he welcomed a small breakthrough in the form of a new intergovernmental process that could lay the groundwork for future reform. Civil society leaders also warned of the dangers of so-called 'debt-for-climate swaps', with Mr. Braganza calling them 'false solutions' that fail to provide genuine fiscal space for developing nations. Tove Ryding of the European Network on Debt and Development (Eurodad) echoed those concerns, saying: 'We are told there's no money to fight poverty or climate change — but there is. The problem is economic injustice. And the outcome of this conference reflects business as usual.' She highlighted the progress made on a new UN Tax Convention as proof that determined countries can bring about real change, adding: 'If only we had a tax dollar for every time we were told this day would never come.' Commitment bears fruit for public health To help close gaps in access to public services and policies, and to address healthcare cuts that could cost thousands of lives, Spain on Wednesday launched the Global Health Action Initiative aimed at revitalising the entire global health ecosystem. The initiative, which will channel €315 million into the global health system between 2025 and 2027, is supported by leading multilateral health organisations and more than 10 countries. Raising prices, saving lives Later at the conference, the UN health agency unveiled a new drive to help countries tackle chronic disease and raise vital funds by increasing taxes on tobacco, alcohol, and sugary drinks. The 3 by 35 Initiative urges governments to boost the real prices of these products by at least 50 per cent by 2035. ' Health taxes are one of the most efficient tools we have,' said Dr. Jeremy Farrar, WHO Assistant Director-General. ' They cut the consumption of harmful products and create revenue governments can reinvest in health care, education, and social protection.' Noncommunicable diseases like heart disease, cancer, and diabetes now account for more than three-quarters of all deaths worldwide. WHO says a one-time 50 per cent price rise could prevent 50 million premature deaths over the next 50 years, while generating $1 trillion in public revenue. Between 2012 and 2022, nearly 140 countries raised tobacco taxes, proving such change is both possible and effective.
