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Zawya
30-04-2025
- Business
- Zawya
Egypt's Al-Mashat urges lower borrowing costs, more debt swaps at UN forum
Egypt's Minister of Planning, Economic Development and International Cooperation, Rania Al-Mashat, called on the international community to lower borrowing costs and expand debt-for-development swap solutions to alleviate financial burdens on developing countries, during a UN forum in New York. Speaking at a high-level ministerial dialogue on 'Lowering Borrowing Costs and Advancing Development-Oriented Debt Solutions,' Al-Mashat addressed the United Nations Economic and Social Council (ECOSOC) Forum on Financing for Development. The forum is part of the preparatory process for the 4th International Conference on Financing for Development, scheduled for Seville, Spain, in June. Minister Al-Mashat emphasised that 'financial challenges have impacted the available fiscal space for developing countries, particularly in Africa.' She stressed the necessity for countries to clearly articulate their reform programmes, stating that 'clear reforms and bankable projects enhance countries' credibility with financing institutions and investors' and contribute to reducing borrowing costs. Highlighting the scale of the challenge, Al-Mashat noted the financing required for Sustainable Development Goals (SDGs) and climate action is immense. 'Overcoming the sustainable development financing gap is impossible without a genuine partnership with the private sector,' she stated, adding that this requires governments to provide a 'competitive, investment-attractive environment.' The minister pointed out that despite the availability of instruments like blended finance and grants, accessing financing is often hindered by a lack of 'bankable projects.' She highlighted the importance of cooperation, knowledge sharing, and replicating successful development experiences, citing Egypt's national 'NWFE' programme as a model country platform attracting investment through clear projects stimulating private sector involvement. Al-Mashat affirmed the Egyptian government's commitment to continuing its economic reform path, ensuring transparency in development cooperation projects, addressing SDG financing gaps, and encouraging private sector participation. She underscored Egypt's strong relationships with international financing institutions and development partners. Addressing the issue of rising debt, the minister described it as a challenge consuming significant financial resources for interest payments in many developing nations, especially in Africa. To overcome this, she advocated for increased efforts to mobilise domestic resources through developing capital markets, increasing private sector investments, maximising asset utilisation, and pursuing reforms that lower financing costs. Al-Mashat outlined Egypt's experience in expanding debt-for-development swap programmes with bilateral partners, redirecting debt equivalents to impactful development projects. She described this mechanism as an 'innovative tool' contributing to alleviating debt burdens and improving credit ratings, noting that markets are now more receptive to debt swaps and restructuring. Concluding her remarks, Al-Mashat reaffirmed the critical importance of governments continuing to advance reform agendas with clarity and transparency. She stated that international financial institutions and multilateral development banks remain 'essential partners' in mobilising finance, particularly for the private sector, provided projects are ready and plans are clear, while also highlighting the proven effectiveness of bilateral debt swaps.
Daily News Egypt
29-04-2025
- Business
- Daily News Egypt
Egypt's Al-Mashat urges lower borrowing costs, more debt swaps at UN forum
Egypt's Minister of Planning, Economic Development and International Cooperation, Rania Al-Mashat, called on the international community to lower borrowing costs and expand debt-for-development swap solutions to alleviate financial burdens on developing countries, during a UN forum in New York. Speaking at a high-level ministerial dialogue on 'Lowering Borrowing Costs and Advancing Development-Oriented Debt Solutions,' Al-Mashat addressed the United Nations Economic and Social Council (ECOSOC) Forum on Financing for Development. The forum is part of the preparatory process for the 4th International Conference on Financing for Development, scheduled for Seville, Spain, in June. Minister Al-Mashat emphasised that 'financial challenges have impacted the available fiscal space for developing countries, particularly in Africa.' She stressed the necessity for countries to clearly articulate their reform programmes, stating that 'clear reforms and bankable projects enhance countries' credibility with financing institutions and investors' and contribute to reducing borrowing costs. Highlighting the scale of the challenge, Al-Mashat noted the financing required for Sustainable Development Goals (SDGs) and climate action is immense. 'Overcoming the sustainable development financing gap is impossible without a genuine partnership with the private sector,' she stated, adding that this requires governments to provide a 'competitive, investment-attractive environment.' The minister pointed out that despite the availability of instruments like blended finance and grants, accessing financing is often hindered by a lack of 'bankable projects.' She highlighted the importance of cooperation, knowledge sharing, and replicating successful development experiences, citing Egypt's national 'NWFE' programme as a model country platform attracting investment through clear projects stimulating private sector involvement. Al-Mashat affirmed the Egyptian government's commitment to continuing its economic reform path, ensuring transparency in development cooperation projects, addressing SDG financing gaps, and encouraging private sector participation. She underscored Egypt's strong relationships with international financing institutions and development partners. Addressing the issue of rising debt, the minister described it as a challenge consuming significant financial resources for interest payments in many developing nations, especially in Africa. To overcome this, she advocated for increased efforts to mobilise domestic resources through developing capital markets, increasing private sector investments, maximising asset utilisation, and pursuing reforms that lower financing costs. Al-Mashat outlined Egypt's experience in expanding debt-for-development swap programmes with bilateral partners, redirecting debt equivalents to impactful development projects. She described this mechanism as an 'innovative tool' contributing to alleviating debt burdens and improving credit ratings, noting that markets are now more receptive to debt swaps and restructuring. Concluding her remarks, Al-Mashat reaffirmed the critical importance of governments continuing to advance reform agendas with clarity and transparency. She stated that international financial institutions and multilateral development banks remain 'essential partners' in mobilising finance, particularly for the private sector, provided projects are ready and plans are clear, while also highlighting the proven effectiveness of bilateral debt swaps.
See - Sada Elbalad
29-04-2025
- Business
- See - Sada Elbalad
Dr. Rania Al-Mashat Conveys Several Messages to the International Community on Reducing Financing Costs and Expanding Debt-for-Development Swap Solutions to Alleviate Burdens on Developing Countries
Basant Ahmed H.E. Dr. Rania A. Al-Mashat, Minister of Planning, Economic Development and International Cooperation, participated in a high-level ministerial dialogue on "Lowering Borrowing Costs and Advancing Development-Oriented Debt Solutions'. This comes as part of the Financing for Development Forum organized by the United Nations Economic and Social Council (ECOSOC) in New York, within the preparatory meetings for the 4th International Conference on Financing for Development, scheduled to be held in Seville, Spain, next June. During her speech, H.E. Dr. Rania Al-Mashat emphasized the significance of cooperation with various national parties, as well as cooperation with international partners, to support the achievement of development goals. H.E. Dr. Al-Mashat pointed out the necessity for countries to be clear in announcing their reform programs, which enhances credibility and contributes to reducing borrowing costs, as their absence leads to an increase in these costs. Therefore, conveying clear messages about reforms and emphasizing private sector engagement has become a top priority. Regarding the required financing volume, H.E. Minister Al-Mashat indicated that the financing needed to achieve the Sustainable Development Goals (SDGs) and climate action is enormous, and this financing can only be mobilized through genuine private sector participation. However, this participation will only materialize if governments provide a clear and transparent competitive environment that attracts private sector investments. On how to provide this financing, the Minister of Planning, Economic Development and International Cooperation highlighted that global economic developments have caused a tightening of fiscal space, especially in terms of concessional development financing. H.E. Dr. Al-Mashat reiterated that despite the availability of blended finance instruments and grants, one of the challenges hindering access to financing is often the lack of bankable projects. This highlights the importance of cooperation, knowledge sharing between countries, and leveraging replicable development experiences. H.E. Minister Al-Mashat pointed to the success of the national efforts in launching the "NWFE" program, which has become a model for country platforms that attract investments through clear and private sector-stimulating projects. Regarding national efforts in economic and structural reform, H.E. Dr. Al-Mashat affirmed the government's commitment to continue the economic reform path, transparency in development cooperation projects, addressing the SDGs financing gaps, and encouraging private sector participation. H.E. Dr. Al-Mashat underscored that Egypt has strong and distinguished relationships with international financing institutions and development partners, enabling it to maximize the benefits of development financing resources and technical support. H.E. Dr. Al-Mashat then reviewed the rising debt, which has become a challenge facing many developing countries, particularly in Africa, consuming a significant portion of financial resources for interest payments. H.E. Minister Al-Mashat pointed out that to overcome these problems, it is necessary to increase efforts to mobilize domestic resources by developing capital markets, increasing private sector investments, maximizing asset utilization, and proceeding with reforms that contribute to reducing financing costs and advancing the development path. H.E. Dr. Al-Mashat outlined that Egypt, over the past years, has strengthened its partnership with the international community to expand debt-for-development swap programs with bilateral partners, redirecting the equivalent of these debts to projects with developmental impact in multiple sectors. H.E. Dr. Al-Mashat noted that the debt swap mechanism has become an innovative tool that contributes to alleviating debt burdens on countries and improving their credit ratings. She affirmed that with current global developments, there is greater acceptance of debt swaps or restructuring in general, as markets have become more receptive to these instruments compared to the past. H.E. Dr. Rania Al-Mashat concluded her speech by reaffirming the importance of governments continuing to boost reform agendas with clarity and transparency, more than ever. Many reforms related to mobilizing domestic resources can open up greater fiscal space. H.E. Minister Al-Mashat confirmed that international financial institutions and multilateral development banks remain essential partners in mobilizing financing, especially for the private sector, provided projects are ready and plans are clear. She also highlighted the proven effectiveness of bilateral debt swaps. 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 Lifestyle Pistachio and Raspberry Cheesecake Domes Recipe News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content Arts & Culture Nicole Kidman and Keith Urban's $4.7M LA Home Burglarized Videos & Features Bouchra Dahlab Crowned Miss Arab World 2025 .. 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Daily Tribune
18-04-2025
- Politics
- Daily Tribune
Bahrain's Youth Minister Highlights Kingdom's Empowerment Efforts at UN ECOSOC Youth Forum
Her Excellency Mrs. Rawan bint Najeeb Tawfiqi, Minister of Youth Affairs, represented the Kingdom of Bahrain at the opening session of the United Nations Economic and Social Council (ECOSOC) Youth Forum held at the UN Headquarters in New York, USA. The forum was held under the theme: 'Working with and for Youth to Develop Inclusive and Sustainable Solutions for the 2030 Agenda.' On the sidelines of the forum, Minister Tawfiqi took part in a ministerial meeting organized by the UN Office of the Secretary-General's Envoy on Youth, focused on enhancing youth participation in policymaking and decision-making processes. In her address, Minister Tawfiqi emphasized that empowering youth and integrating them into decision-making is a cornerstone for building more inclusive and sustainable societies. She noted that involving young people in shaping policies that directly affect their lives reflects trust in their capabilities and creative potential. The Minister also participated in a panel discussion titled 'Effective Youth Engagement in the Workforce,' where she showcased Bahrain's pioneering experience in youth sector development. She explained that the Ministry of Youth Affairs has transitioned from merely implementing programs to acting as a facilitator and enabler, which has led to the establishment of 23 youth-led associations specializing in areas such as talent management, leadership, and innovation. She pointed out that many of these initiatives are run by young volunteers, allowing them to gain valuable experience and skills, eventually preparing them to serve as mentors for future generations. Minister Tawfiqi reiterated Bahrain's commitment to enabling youth to contribute meaningfully to addressing national challenges and strengthening their roles within institutions, thus building a resilient and sustainable youth ecosystem. During her visit, the Minister also attended the commemoration of the 10th anniversary of the adoption of UN Security Council Resolution 2250 (2015), which acknowledges the role of youth in promoting peace and security. Additionally, she participated in a special event hosted by the Russian Federation Mission, which focused on Russian policies supporting and empowering youth. On the sidelines of the forum, Minister Tawfiqi held several high-level meetings with senior UN officials, including Mr. Dennis Francis, President of the 78th session of the UN General Assembly, and Mr. Felipe Paullier, the UN Assistant Secretary-General for Youth Affairs. These engagements reflect Bahrain's active international role in promoting youth development and its commitment to achieving the goals of the 2030 Agenda for Sustainable Development.
Iraqi News
18-04-2025
- Politics
- Iraqi News
Iraq: Receiving international praise for the attention given to the youth sector
INA – BAGHDAD Minister of Youth and Sports, Ahmed Al-Mubarqa, affirmed on Friday the government's interest in and support for the youth sector, while explaining that Iraq has received international acclaim for its care and attention to the youth. "The government is greatly interested in the youth sector and is determined to continue this approach," Al-Mubarqa said in a video statement during his participation in the Youth Forum of the United Nations Economic and Social Council – followed up by the Iraqi News Agency – INA. He noted that "during the forum, we discussed the importance of the government's work, headed by Muhammed S. Al-Sudani, in caring for the youth sector, and the establishment of the Supreme Council for Youth, headed by PM Al-Sudani and his deputy, the Minister of Youth and Sports. We also touched on a number of aspects of the government's commitment to the youth sector." "We also discussed during the forum the government's role in combating homosexuality," he added, while expressing "our condemnation of what young people are being subjected to in the Gaza Strip and southern Lebanon." He emphasized that "those present praised Iraq's speech for its care and attention to the youth sector." "The government is determined to continue this approach to achieve the true goal of building young people who will serve as the cornerstone of a promising future," said Al-Mubarqa.
