In the Context of Ongoing Meetings with International Partners... Dr. Rania Al-Mashat Holds a Comprehensive Meeting with the United Nations and its Specialized Agencies, and International Financial Institutions to Present the New Operational Framework for Economic Development

  "Al-Mashat": Integration between Economic Diplomacy and Planning Mechanisms to Advance Development Efforts

    The government continues to take effective measures to enhance macroeconomic stability

    Utilizing technical support mechanisms and international diagnostic reports to formulate effective evidence-based economic policies

   The executive regulations of the Planning Law are nearing completion

The United Nations and international partners reaffirm their commitment to supporting the government’s vision and efforts to achieve development

 

In the context of H.E.’s ongoing meetings with multilateral and bilateral development partners and international institutions, Dr. Rania A. Al-Mashat, Minister of Planning, Economic Development, and International Cooperation,met with Ms. Elena Panova, UN Resident Coordinator in Egypt, and representatives from around 20 UN agencies and organizations, as well as representatives from the World Bank and the Islamic Development Bank. The meeting included a review of the economic development framework, governance of investment expenditure, and discussions on future priorities to boost economic development efforts.

 

At the beginning of the meeting, H.E. Dr. Al-Mashat welcomed the UN representatives and highlighted her participation in the annual meetings of the World Bank Group in Washington. H.E. emphasized the productive discussions among decision-makers from different countries on reforms to the global financial architecture, promoting global economic growth, tackling climate challenges, and addressing food security threats.

 

Financing for Growth and Economic Development Framework

 

H.E. Dr. Al-Mashat presented the sustainability and financing framework for economic development, through which the ministry aims to achieve qualitative and sustainable economic growth. The framework is based on three main pillars: Firstly: Formulating  Data-Driven & Evidence-Based Economic Development Policy informs educated discussions about the needs and opportunities in areas such as  human capital, industrial development, SMEs, technology, entrepreneurship, sustainable infrastructure, green investments, among others, while ensuring robust monitoring and evaluation mechanisms to track progress and optimize outcomes; Secondly: Building a Future-Resilient Economy advances macroeconomic stability through the implementation of structural reforms to foster  economic competitiveness, macro-fiscal resilience and the green transition; and thirdly: Optimizing Resource Allocation by adopting an integrated national financing framework that mobilizes domestic and international financing, thus allocating resources to priority sectors and supporting SDG acceleration.

 

H.E. Minister Al-Mashat explained that the new framework is designed to reflect the integration of planning, economic development, and international cooperation to chart pathways for sustainable growth. It translates national strategies into impactful development projects across various sectors, integrating the development of the planning system with international partnerships that provide financing and technical support for achieving economic development.

 

Regarding the formulation of evidence-based economic development policies, the Minister of Planning, Economic Development, and International Cooperation stated that the new Planning Law of 2022 and its executive regulations, which are being prepared, fundamentally enhance this goal by institutionalizing a more strategic approach based on reliable evidence in the planning process. H.E. Dr. Al-Mashat noted that the law mandates the use of comprehensive data analysis, regular follow-up, and alignment of national priorities with sustainable development goals.

 

Governance of Public Investments

 

H.E. Minister Al-Mashat referred to the state’s efforts in the governance of public investments, highlighting the structure of public investments in the economic and social development plan for the fiscal year 2024/2025, which allocates 42% for human and social development, 37% for industrial development and infrastructure, and 21% for local development. H.E. also mentioned investment trends in human and social development over the past decade.

 

H.E. Dr. Al-Mashat indicated that enhancing the efficiency of investment expenditure governance involves three phases: planning investment through updating project evaluation criteria, developing methodologies for calculating private investments, integrating geographic information, and activating local development programs; allocating investment through developing a financial equation to cover developmental gaps in governorates; and monitoring the implementation of these investments. H.E. pointed out that the financial equation serves as a funding framework that promotes equitable resource allocation, with investments directed more towards the most in-need areas. This equation includes indicators of human development for each governorate, the relative weight of border governorates, and direct investments in areas with developmental priorities.

 

H.E. Minister Al-Mashat reviewed the ministry’s efforts in coordinating with relevant entities and ministries to establish the executive steps for governance of investment expenditure, adhering to a ceiling for public investments that includes local resources and external financing.

 

Integrated National Development Financing Strategy

 

Regarding the integrated national development financing strategy for Egypt, which has been prepared in collaboration with the United Nations, H.E. Dr. Al-Mashat noted that the ministry launched the strategy during the Future Summit held on the sidelines of the 79th UN General Assembly, emphasizing its alignment with national policies and strategies, such as the National Structural Reforms Program, the State Ownership Policy Document, and the Sustainable Sovereign Financing Framework. This strategy supports the state’s efforts to achieve sustainable development, focusing on priority sectors such as social protection, education, health, transportation, sanitation, climate change, and women's empowerment.

 

H.E. Dr. Al-Mashat highlighted the importance of achieving comprehensive and sustainable economic and social development through effective development financing, mentioning the significance of the upcoming Fourth International Conference on Financing for Development in Spain in June 2025, as part of efforts to integrate the concept of equitable financing into reforms of the international financial system to accelerate the achievement of sustainable development goals.

 

Regarding government policies and actions in the upcoming period, the Minister of Planning, Economic Development, and International Cooperation reaffirmed the Egyptian government's commitment to continue implementing effective measures and policies that support macroeconomic stability and enhance the governance of public investments, while focusing on creating space for private sector participation and ensuring efficient resource allocation to key sectors.

 

During the meeting, representatives from UN organizations and international institutions reiterated their commitment to supporting the government’s vision and efforts to enhance economic development and stabilize the macroeconomy.

 

Ms. Elena Panova, UN Resident Coordinator in Egypt, emphasized the UN’s and its agencies’ commitment to supporting the Egyptian government’s efforts across various fields and mobilizing all necessary expertise, efforts, and resources to align national priorities with the international agenda. She highlighted the importance of ongoing dialogue platforms between the Ministry of Planning, Economic Development, and International Cooperation and development partners to coordinate visions, monitor the developments of joint cooperation, and achieve related objectives.

 

Representatives from the Islamic Development Bank, the World Bank, and specialized UN agencies acknowledged the ministry's efforts in achieving integration between the planning system and international cooperation to support economic development, emphasizing the strategic partnership with Egypt and the desire to continue collaboration to advance mutual relations.

 

Attendees included Dr. AbdulHakim ElWaer, Assistant Director-General of the Food and Agriculture Organization (FAO) and Regional Representative for the Near East and North Africa, Ms. Cristina Albertin, Regional Representative for the UN Office on Drugs and Crime (UNODC) in the Middle East and North Africa, Mr. Muhammad Abdelgadir, Country Director of the International Fund for Agricultural Development (IFAD) Office in Cairo, Mr. Eric Oechslin, Director of the International Labour Organization (ILO) Country Office in Egypt, Dr. Walid Kamal, Director of the Joint United Nations Programme on HIV/AIDS (UNAIDS) in Egypt, Mr. Alessandro Fracassetti, UN Development Programme (UNDP) Resident Representative in Egypt, Mr. Jean-Pierre Domergue, World Food Programme (WFP) Egypt Representative and Country Director, and Mr. Muhammad Al-Nasour, Chief of the Middle East and North Africa Section at the Office of the UN High Commissioner for Refugees (UNHCR), alongside representatives from the International Organization for Migration (IOM), UN Women, UNICEF, WHO, UN-HABITAT, UNFPA, UNDRR, and UNV.