Monday 13 January 2020
Cairo – A A A:
President Abdel Fattah Al-Sisi directed more attention to be paid to combating poverty and the areas most in need, and expanding support to entrepreneurship and medium and small industries for its role in providing job opportunities for youth and opening new horizons for them, in addition to focusing on programs that aim to assist and empower women, while deepening the private sector’s participation in Those efforts by the state, as a pillar of development.
This came during a meeting held by President Sisi on Monday with Dr. Mustafa Madbouly, Prime Minister, and Dr. Rania Al-Mashat, Minister of International Cooperation.
Ambassador Bassam Radi, the official spokesman for the Presidency of the Republic, said that the meeting dealt with a review of the future strategy of the Ministry of International Cooperation, within the framework of the country’s economic and development efforts, and through cooperation with international financing institutions.
President Al-Sisi directed in this regard to ensure the optimal use of the financing provided by international institutions to maximize the benefit in achieving comprehensive development in various sectors, through a clear and effective framework for the mechanism of obtaining development loans, and discussing ways to obtain the best financing alternatives in terms of conditions and the competitive advantage of financing institutions And development partners.
The Spokesman stated that the Minister of International Cooperation presented the most important axes of the Ministry’s current and future strategy, which is to formulate an institutional framework to define the financing gap to determine the ceiling of external borrowing and maintain the financial solvency of the country, and increase the effectiveness of development cooperation so that it is compatible with both the annual government program and the vision of Egypt 2030, in addition to maximizing the volume of technical cooperation with development partners by taking advantage of successful international experiences and experiences as an effective way to achieve development, as well as activating private sector participation in development projects by enhancing Egypt’s position as a regional hub not It will attract entrepreneurs and enhance the role of women as a major actor in development.
Dr. Rania Al-Mashat presented the current projects funded by grants and concessional development loans during 2019, which are provided through 26 development partners, within the framework of 301 international cooperation agreements to serve 20 beneficiary sectors, the most important of which are electricity and energy, housing and utilities, transportation and communications, education and education Technical, noting in this regard the international financial institutions praising the ongoing and planned development projects in Egypt, especially projects with a social dimension, which contribute to improving the living conditions of citizens and providing job opportunities, explaining that the Ministry of International Cooperation aims to cooperate With international development partners to get the best experiences in the field of economic and social development.
The Spokesman added that the Minister of International Cooperation referred to the forthcoming visit of a high-level delegation from the World Bank executives during the current month for the first time since 2014, who specialize in following up the operations of the World Bank Group, and represent the main body in setting policies that govern the Bank’s framework with countries The beneficiaries, and their visit to Cairo aims to review the efforts of the Egyptian government for economic reform, as well as conducting field visits to the various development projects that the bank contributes to in Egypt, in addition to discussing the prospects for future cooperation between Egypt and the bank, as well as exposure Egypt’s vision on ways to achieve growth in Africa.
The Minister also presented the Ministry’s activity within the framework of the general strategy of the state towards the development of Sinai in its various stages, and the executive position towards the financing component to implement development projects in Sinai, especially in the sectors of housing, infrastructure, water desalination, transportation and transportation, and higher education.