The Ministry of Planning, Economic Development, and International Cooperation organizes two high-level events with the Kingdom of Spain and the UNDP on the launch of the “Seville Platform for Action” and national platforms for development financing

As Part of the Egyptian Delegation’s Participation in the 4th International Conference on Financing for Development

 

The Ministry of Planning, Economic Development, and International Cooperation organizes two high-level events with the Kingdom of Spain and the UNDP on the launch of the “Seville Platform for Action” and national platforms for development financing

 

 

Al-Mashat: The global economy is undergoing major, historical transformations that require prioritizing multilateral cooperation to get back on track for development.

 

The “Seville Platform for Action” initiatives mark a qualitative shift in the methodology of development and climate financing, emphasizing national ownership of development plans.

 

Egypt is proud to lead in adopting an integrated approach to development financing and activating national platforms to mobilize climate investments.

 

 

As part of Egypt’s participation in the Fourth International Conference on Financing for Development (FfD4), held in Seville, Spain, the Ministry of Planning, Economic Development, and International Cooperation, in collaboration with the Spanish presidency of the conference and UNDP, organized two high-level sessions on the “Seville Platform for Action”—launched during the conference—and tools for development financing. The sessions were attended by Mr. Carlos Cuerpo, Spanish Minister of Economy, along with UNDP, various governments, development partners, international financial institutions, and UN organizations.

 

In her remarks, H.E. Dr. Rania A. Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, expressed gratitude to the Spanish government for hosting this important event at a time when the global economy is facing profound shifts and complex challenges. These challenges threaten the ability to achieve the Sustainable Development Goals (SDGs) by 2030, particularly due to limited fiscal space in developing and emerging economies, rising debt burdens, and increasing threats from climate change.

 

H.E. Dr. Al-Mashat affirmed the international community's aspirations for productive outcomes that boost toward restructuring the global financial system, addressing its structural imbalances, and reinforcing the values of multilateral cooperation to overcome such challenges.

 

H.E. Minister Al-Mashat highlighted the significance of the “Seville Platform for Action”, which aims to bring about a qualitative leap in development and climate finance methodologies. The platform emphasizes empowering countries to lead their own national financing strategies, coordinating efforts to align national plans with practical financing mechanisms, expanding the scope of integrated national financing frameworks, and launching a global financing guide to direct international support toward each country's priorities. Given the slowed progress on development due to constrained fiscal space, implementing the conference's recommendations has become essential to help countries get back on track and overcome current obstacles.

 

H.E. Dr. Al-Mashat reiterated the importance of integration and coordination among the various stakeholders in the multilateral system to ensure the success of the outcomes and recommendations of the FfD4 Conference in Seville. She called for supporting capital flows, whether through development finance or private investment, and responding to the real and pressing needs of developing and emerging economies.

 

H.E. Dr. Al-Mashat confirmed that Egypt is proud to lead in adopting the integrated financing approach and activating national platforms to guide its development agenda. Through Egypt’s Integrated National Financing Strategy (E-INFS) and the NWFE Program, the country is mobilizing development finance to support economic growth, create decent job opportunities, and encourage private sector engagement.

 

H.E. Minister Al-Mashat added that over the past two and a half years, the NWFE platform has proven to be a model for country platforms that create a collaborative space for government, private sector, international institutions, development partners, and climate action coalitions. It has facilitated $4 billion in development financing for the renewable energy sector.

 

Egypt also launched its Integrated National Financing Framework for Development (EINFF) this year, in collaboration with UNDP. This framework offers a comprehensive national financing strategy that includes various financing initiatives aimed at accelerating the achievement of the SDGs.

 

The strategy outlines a practical roadmap for sustainable and innovative financing, through a set of measures to close the financing gap, including: expanding public-private partnerships,promoting the green banking system, and scaling up financing tools to support priority sectors.

The Ministry of Planning, Economic Development, and International Cooperation organizes two high-level events with the Kingdom of Spain and the UNDP on the launch of the “Seville Platform for Action” and national platforms for development financing