H.E. Dr. Rania A. Al-Mashat Minister of Planning, Economic Development and International Cooperation Meets with Citibank Global on Strengthening Cooperation in Policies to Support Macroeconomic Stability and Empower the Private Sector

As part of her ongoing meetings with development partners and international institutions to present the Ministry’s vision and priorities for the coming period, H.E. Dr. Rania A. Al-Mashat, Minister of Planning, Economic Development and International Cooperation, held a meeting with Mr. Jay Collins, Vice Chairman of Banking, Capital Markets, and Advisory, in the presence of Mr. Joaquin J. Jojo, Managing Director and Head of Global Sovereign Solutions, Mr. Mohamed AbdelKader, Country Manager of Citibank Egypt, Ms. Hanan Salem, Managing Director and Head of Global Sovereign Advisory, and Ms. Nancy Tawfik, Head of Corporate Banking in Egypt.

 

During the meeting, Dr. Rania Al-Mashat reviewed the role played by the Ministry in supporting the government's development efforts and work towards achieving inclusive and sustainable economic development, through the management of public investments at the level of the governorates, in addition to linking the investment plan with international partnerships, and working to mobilize the efforts of development partners and various programs to bridge the financing gap.

 

H.E. pointed out the Ministry’s role in implementing policies that enhance macroeconomic stability, within the framework of the government's priorities, stimulating private sector participation in development efforts, cooperating with various ministries in implementing and following up on local investments, and enhancing structural reforms and social protection programs.

 

The meeting also addressed efforts to localize sustainable development in the governorates and increase the efficiency of local investments, in addition to government plans related to implementing the country ownership document and giving way to the private sector.

 

Moreover, Collins stressed Citibank's keenness to strengthen partnership with the Egyptian government to support economic and structural reform efforts, contribute to actions implemented to encourage foreign direct investment, attract private investment, and support inclusive and sustainable economic growth.

 

The Citibank Group team reviewed the solutions and policies that can be worked on with the government to determine the priorities for the next phase and the policies that can be implemented to enhance macroeconomic stability, effective management of country-owned enterprises, finance development, support the transformation in the energy sector, and exploit the global momentum around the transition to renewable energy.

 

The bank's team also presented mechanisms to accelerate the foreign direct investment in Egypt, encourage green investments, and drive further efforts towards developing the business environment. They also stressed the importance of Egypt's Country Platform "NWFE" program to enhance climate ambition, encourage green investments, and advance the government's efforts in the field of green transformation..