H.E. Dr. Rania A. Al-Mashat Discusses Strengthening the Strategic Partnership with the French Development Agency (AFD) to Support Economic Development Efforts & Empower the Private Sector

As part of a series of meetings held by H.E. Dr. Rania A.Al-Mashat, Minister of Planning, Economic Development and International Cooperation, with development partners to discuss the priorities of the next phase and follow up on the implementation of the joint cooperation portfolio, H.E. met with Mr. Eric Chevalier, French Ambassador to Cairo, and Ms. Cécile Couprie, the AFD’s Regional Director in Egypt, in the presence of the Ministry’s team.

 

During the meeting, H.E. Dr. Rania A. Al-Mashat highlighted the depth of Egyptian-French relations, their importance and the evolution they have witnessed during the past period, and a reflection on the implementation of many development projects in priority sectors through development cooperation relations with the French Development Agency, referring to the joint strategic partnership between Egypt and the European Union (EU) as well.

 

Public Spending Governance

 

Al-Mashat reviewed the government's efforts to govern and enhance the efficiency of public spending within the framework of the government’s program to ensure macroeconomic stability and increase private sector investments. H.E. explained that the Ministry of Planning, Economic Development and International Cooperation is working to drive sustainable economic growth through evidence-based and data-driven policies to identify and bridge development gaps in sectors, enhance macroeconomic stability, implement structural reforms to increase competitiveness and improve the business environment, support the resilience of macro-fiscal policies, and move towards a green economy.

 

Country Strategy between Egypt and the French Development Agency (AFD)

 

H.E. noted that the country strategy between Egypt and the French Development Agency until 2025 "Towards Shared Prosperity", aims to achieve maximum benefit from international partnerships and development funding to support the National Development Vision 2030, affirming that the country strategy between Egypt and the AFD is the culmination of a thriving phase of joint relations and reflects the joint commitment to implement the goals of the Paris Climate Agreement and advancing sustainable development efforts.

Joint Cooperation Portfolio

 

The meeting touched on the joint cooperation portfolio between Egypt and the AFD, which reflects the depth of relations between the two countries. The total cooperation portfolio for the public sector and investments for the private sector have exceeded €3 billion since 2006, in addition to the AFD managing €150 million in development grants from the European Union (EU), which was reflected in advancing development efforts in various sectors such as the environment, housing, energy, transportation, agriculture, small and medium enterprises SME's, and health.

 

Partnership within the Framework of Team Europe

 

The Minister of Planning, Economic Development and International Cooperation also discussed the development of joint relations in light of the “Team Europe” initiative, where agreements were signed with the French government and the AFD worth  €1.5 billion during the period from 2020 to 2023, in the fields of food security, sanitation, smart transportation, railways, housing, education, higher education, environment, women, social protection, and energy.

 

For his part, the French Ambassador highlighted France’s appreciation for relations with the Arab Republic of Egypt, and his aspiration to move forward in order to advance development efforts in priority areas, especially with the new government assuming its duties, pointing out the French side's interest in strengthening relations with the private sector and localizing industry and investments in the Egyptian market.

 

NWFE

 

The meeting also covered the French side’s contribution to implement the projects of the country platform of the“NWFE” program; supporting green transformation projects in the energy sector, as well as smart transportation projects, by financing the implementation of the Alexandria Regional Control Center (ARCC) project.

 

The two sides also discussed developments in the implementation of projects included in the current portfolio through the Automated Information Management System (AIMS), and the progress this has created towards the SDGs. The meeting also touched on future projects and partnerships within the framework of joint efforts to advance development in Egypt according to priorities.

 

It is worth noting that in 2020, an agreement was signed between the Ministry of International Cooperation and the AFD to provide a comprehensive package of development financing to accelerate economic recovery and green transformation, and support investment in human capital. During the visit of the French Minister of Economy and Finance at the time, Bruno Le Maire, an agreement was signed between the Egyptian and French governments to contribute to financing Egypt's priority development projects, in light of the 2021-2025 strategy, worth €1.76 billion.