Latest news with #andInternationalCooperation
See - Sada Elbalad
a day ago
- Business
- See - Sada Elbalad
Al-Mashat Interview Panel for "Women Lead for Executives" Program at NTA
Israa Farhan Dr. Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, chaired one of the interview panels on Thursday for applicants to the 'Women Lead for Executives' program, organized by the National Training Academy (NTA) in partnership with the Ministry. This initiative is part of national efforts to qualify women for leadership roles and promote their economic, social, and political empowerment. Dr. Al-Mashat emphasized the importance of the 'Women Lead for Executives' program, which is one of the distinguished training programs provided by the NTA in cooperation with the Ministry of Planning, Economic Development, and International Cooperation. The program targets women in executive positions across various institutions, ranging in age from 22 to 50. She noted that with every round of interviews, she witnesses the advancement in the caliber of applicants and their eagerness to acquire the skills that will enable them to contribute to the prosperity and progress of our beloved nation. The Minister noted that Egyptian women have received significant attention under the leadership of H.E. President Abdel Fattah El-Sisi, President of the Republic. This has been reflected in the launch of the National Strategy for the Empowerment of Egyptian Women 2030 and the measures that have enabled women to hold leadership positions that were previously inaccessible. She added that empowering women economically, socially, and politically does not only benefit women themselves, but yields positive results across all aspects of life in Egypt. She further explained that women's empowerment is a key component of the state's efforts to invest in human capital and develop the skills of young men and women, enhancing their ability to assume leadership positions. The state is working to integrate gender equality and women's economic and social empowerment across all development plans. As such, women's empowerment has become a core component of the economic and social development plan, as well as various strategies and programs being implemented in cooperation with bilateral and multilateral development partners. Dr. Al-Mashat added: 'Empowering women economically, socially, and politically is a significant responsibility. Women are required to constantly prove their competence and capability to hold such positions. In addition, they bear a major responsibility in encouraging more women and girls to enter various fields of work, thereby increasing women's participation in the labor market.' Dr. Rasha Ragheb, Executive Director of the NTA, welcomed Dr. Rania Al-Mashat upon her arrival at the Academy headquarters in Giza Governorate. Dr. Al-Mashat and Dr. Ragheb toured the training sessions taking place under the Support for Improvement in Governance and Management (SIGMA) program. This program is part of the effective partnership between the NTA, the Ministry of Planning, Economic Development, and International Cooperation, the European Union, and the Organisation for Economic Co-operation and Development (OECD). The Minister took the opportunity to motivate the participants in the program, stressing the importance of the partnership between Egypt and the OECD. This partnership has resulted in the implementation of several programs that contribute to strengthening governance mechanisms and supporting development efforts 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 Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content Arts & Culture Nicole Kidman and Keith Urban's $4.7M LA Home Burglarized Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Sports Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies News Flights suspended at Port Sudan Airport after Drone Attacks
Egypt Today
4 days ago
- Business
- Egypt Today
Egypt Set to Launch €1.8 Billion EU-Backed Investment Guarantee Initiative in June
Egypt will roll out a new Investment Guarantee Mechanism in June 2025, in partnership with the European Union, offering guarantees worth €1.8 billion, according to Dr. Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation. Speaking at the Egypt-Sweden Business Forum, Al-Mashat explained that the initiative is designed to attract private capital and channel impact investments into key sectors, including energy, infrastructure, digital transformation, water, agriculture, and climate adaptation. The guarantees are expected to unlock further financing from European and global development banks, bolstering Egypt's investment climate and expanding private sector opportunities—particularly for Swedish enterprises. Al-Mashat also outlined recent economic reforms undertaken since March 2024, aimed at reinforcing macroeconomic stability, improving the business environment, and driving sustainable growth. These reforms have led to a strategic pivot toward non-oil manufacturing industries, with a notable rise in private investments even as public investment spending has decreased. Additionally, she underscored the importance of encouraging more direct investment from Swedish companies and strengthening technical cooperation through Egypt's 'NWFE' platform. Al-Mashat further noted Egypt's proactive engagement with the Carbon Border Adjustment Mechanism (CBAM) to ensure its exports remain competitive while supporting the global shift toward lower emissions and green growth.
See - Sada Elbalad
5 days ago
- Business
- See - Sada Elbalad
Egypt, Germany Enhance Economic Partnership with €118 Million Financial Co-op Agreement
Nada Mustafa As part of the strong partnership between the Arab Republic of Egypt and the Federal Republic of Germany, H.E. Dr. Rania A. Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, and H.E. Mr. Jürgen Schulz, the German Ambassador to Egypt, signed a financial cooperation agreement worth €118 million (approximately EGP 6.7 billion). In addition, a new tranche of the Egypt-Germany Debt Swap Program was signed, valued at €21 million (equivalent to EGP 1.2 billion), and aimed at improving renewable energy supply. The event was attended by H.E. Dr. Mahmoud Esmat, Minister of Electricity and Renewable Energy. The financial cooperation agreement encompasses various fields, including a financial support agreement for the Comprehensive Technical Education Initiative. This initiative, benefiting the Ministry of Education and Technical Education, includes a €32 million grant to support the establishment of 25 Egyptian Centers of Excellence (specialized training centers and applied technology schools), by constructing approximately three sector-focused centers of excellence. The agreement also includes €86 million—comprising €54 million in development financing and €32 million in grants—to fund the connection of Aqua Power Stations (1) and (2), enabling the offload of 1,100 megawatts of wind energy. This is part of the energy pillar of the NWFE (Nexus of Water, Food, and Energy) program. Furthermore, H.E. Minister Al-Mashat and the German Ambassador signed a new debt swap agreement involving the Central Bank of Egypt, the Ministry of Electricity and Renewable Energy, the Egyptian Electricity Holding Company, and the German Development Bank (KfW). Valued at €21 million, this agreement will help improve the supply of sustainable and renewable energy. With this signing, the total value of debt swaps implemented between Egypt and Germany rises to approximately €297 million (equivalent to EGP 16.8 billion). In her remarks, H.E. Dr. Rania Al-Mashat emphasized that these agreements further solidify Egypt's partnership with Germany, contributing to economic development, climate action, and investment in human capital. She affirmed that the financial support agreement is part of an ongoing partnership, bolstered under the framework of the Egyptian-European strategic cooperation and backed by both governments' leaderships. H.E. Dr. Al-Mashat also underscored the importance of the €21 million debt swap agreement, which builds on cooperation initiated in 2011. Numerous development projects have been carried out under this framework, and the debt swap program with Germany is a practical application of calls to reform the global financial system. Minister of Electricity and Renewable Energy H.E. Dr. Mahmoud Esmat confirmed that Egypt has undergone a comprehensive infrastructure overhaul and enacted legislative reforms to attract private sector and international investment in electricity and renewable energy, particularly in the renewable energy sector, making Egypt one of the most attractive destinations for investment in this sector. He highlighted the expansion of both solar and wind capacities, driven by both domestic and foreign private sector investment, and praised the Ministry of Planning for its support of the electricity sector and the broader clean energy transition strategy. For his part, the German Ambassador H.E. Mr. Jürgen Schulz stated that Egypt is an important partner for Germany in achieving global climate goals. This is why Germany supports Egypt with expertise and funding in its strategic investments for the future, especially in the expansion of renewable energy. From the very beginning, Germany has supported Egypt's climate initiative NWFE as its largest bilateral partner, with assistance amounting to approximately EGP 15 billion. The projects referred to in the agreement signed by us today will make it possible to supply more than 2.5 million households with green electricity. During COP27, the German government committed €250 million to support the energy pillar of Egypt's country platform for the NWFE program, including €104 million in debt swaps. An agreement worth €54 million was signed in 2023 to support investment in the electricity transmission network and to connect two wind farms—Noes Wind Farm and Amunet Red Sea Wind Farm, with a combined capacity of 500 megawatts—to the national grid. Work is currently underway to sign the second tranche of the debt swap under this program, valued at €50 million. It is worth noting that the debt swap program with Germany is governed by a structured framework to ensure optimal implementation and maximum benefit. The Ministry of Planning, Economic Development, and International Cooperation coordinates with the German side on project selection, negotiates with the German Development Bank and beneficiary national entities, and finalizes technical details and the financing agreement. 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 Arts & Culture Nicole Kidman and Keith Urban's $4.7M LA Home Burglarized Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Sports Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies
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.
