During the activities of the first day of the “International Conference on Alternative Financing Opportunities in Egypt: Towards Sustainable Financing for Development”:
24 May 2022
Deputy Minister of Planning and Economic Development inaugurates the first session entitled "Financing for Development: Towards Achieving Sustainable Development Goals and Egypt's Vision 2030"
Dr. Ahmed Kamali, Deputy Minister of Planning and Economic Development, chaired the “Financing for Development: Towards Achieving Sustainable Development Goals and Egypt’s Vision 2030” session, the first session of the “International Conference on Alternative Financing Opportunities in Egypt: Towards Sustainable Financing for Development”.
The conference was held in cooperation between the Ministries of Planning and Economic and Financial Development and the Macroeconomic Reform and Stability Project funded by the US Agency for International Development, on the 23rd and 24th of May.
The conference witnessed the participation of Christine Arab, representative of the United Nations Women in Egypt, on behalf of Elena Panova, the United Nations Resident Coordinator in Egypt, and Paul Horrocks, Director of Private Finance for Sustainable Development at the Organization for Economic Cooperation and Development (OECD).
The conference also witnessed the participation of Dr. Mark Ehren, Chief Economist for Egypt, Yemen, and Djibouti at the World Bank, Dr. Khaled Zakaria, Professor of Public Administration at the Faculty of Economics and Political Science at Cairo University, Head of the Center for Macroeconomic Policies at the National Planning Institute, via video conference, and some ambassadors, and representatives of community and international organizations.
Dr. Ahmed Kamali stressed the importance of the conference as well as the importance of the issue of financing, explaining that the Egyptian government, as well as the Ministry of Planning and Economic Development, paid attention to the importance of financing since 2018 in the field of sustainable development.
Kamali pointed out that the second voluntary report submitted by the Arab Republic of Egypt during the activities of the High-level Political Forum at the United Nations Political Forum in 2018, an important chapter on the challenges facing sustainable development in Egypt, including the issue of financing, explaining that the issue of financing is not limited to Egypt only.
Kamali added that the reason for the previous funding gap was poor distribution according to the areas of sustainable development, despite the availability of funding.
Kamali explained that in the current situation, with the presence of the Covid-19 crisis and the geopolitical crises, there has become a real gap in resources, which has led to the exacerbation of debts in many countries.
Kamali added that the issue of funding was also focused on in the framework of the last voluntary report submitted by Egypt in 2021.
Kamali also referred to Egypt's Vision 2030 and the modernization that is currently taking place on it, as it is scheduled to be launched within the next few weeks, explaining that a large part of the updated vision deals with the issue of financing, as it comes as one of the main enablers in the updated vision.