Minister Hala El Said Advocates for Gender Equality and Inclusive Growth at World Bank and IMF Spring Meetings

Minister of Planning and Economic Development, Dr. Hala El Said, played a prominent role in the Annual Spring Meetings of the World Bank and the International Monetary Fund (IMF) held in Washington, D.C. 

Her engagements at the meetings emphasized the paramount importance of gender equality as a cornerstone for sustainable and inclusive economic development.

In her keynote session titled “Promoting Inclusive Growth and Gender Equality,” Minister El Said provided a comprehensive overview of the global challenges faced in achieving Sustainable Development Goal 5, which focuses on gender equality. She highlighted that 61.4% of the goal indicators are currently off track, necessitating urgent and concerted efforts to bridge the gender gap. Minister El Said emphasized that reducing the gender gap by just 25% could potentially boost global GDP by a staggering $5.3 trillion and increase tax revenues by nearly $1.4 trillion.

Drawing upon Egypt’s rich history and ongoing commitment to advancing gender equality, Minister El Said outlined the country’s comprehensive strategies and initiatives aimed at fostering women’s empowerment. With women constituting approximately 49% of Egypt’s population, she underscored the importance of integrating gender-responsive policies across all sectors. These strategies include the continued evolution of Egypt’s Vision 2030, ensuring alignment with the UN Sustainable Development Goals, and the implementation of a targeted national strategy dedicated to empowering Egyptian women by 2030.

In her presentation, Minister El Said introduced Egypt’s groundbreaking initiative, the Egyptian Gender Equality Seal (EGES). This initiative serves as an incentive mechanism designed to encourage private sector companies to adopt gender-sensitive policies, both internally and externally. To date, thirteen private sector companies have embraced the EGES, signaling a positive shift towards greater gender equality within the corporate sector, with many more companies actively pursuing certification.

Furthermore, Minister El Said highlighted Egypt’s commitment to fostering regional cooperation and collaboration in enhancing women’s economic empowerment. She spotlighted the “African Women’s Priorities Adapted to Climate Change - AWCAP” initiative, a groundbreaking African regional initiative launched during COP27 on Gender Day. This initiative aims to champion women’s roles as equal stakeholders in fair and sustainable environmental transitions, with a focus on economic empowerment and climate resilience.

In her concluding remarks, Minister El Said emphasized the pivotal role of technology and innovation in driving women’s economic empowerment and inclusion. She highlighted Egypt’s innovative efforts in digital financial inclusion through initiatives such as the Digital Village Savings and Loans Associations (DVSLA) “Tahweesh,” which seeks to economically and financially integrate Egyptian women in rural villages by providing banking services and fostering financial literacy.

The Ministry of Planning and Economic Development remains steadfast in its commitment to promoting gender equality, inclusive growth, and sustainable development. Minister El Said reaffirmed the ministry’s dedication to forging strong partnerships and collaborations with international organizations, including the World Bank and IMF, to collectively advance these critical objectives and pave the way for a more equitable, inclusive, and prosperous future for all.