Gold prices in Egypt on May 19    Egypt to inaugurate new Sphinx International Airport in mid-July    Turkey's finance minister to visit Egypt for first time in 9 years    Finland and Sweden formally apply to join NATO alliance    Egypt's foreign inflows grow 30% since pound correction move in March – governor    Shell acquires Block 3 in North East El-Amriya, Egypt    Saudi Arabia prolongs Yemen central bank's deposit    Egypt Knauf launches its first training centre in Egypt    Egypt uncovers official logo for COP27    Noura Al-Mutair – first Gulf female boxer in World Championships    Egypt unveils 50 pound coin minted to mark Avenue of Sphinxes grand reopening    Liverpool fans: "You'll Never Walk Alone" to Cristiano Ronaldo    Hot, rainy weather hits Egypt this week    COVID-19 in Egypt: infections fall to 124 cases last week    Egypt to play key role in integrating water, climate issues globally – World Bank official    Egypt's telecoms regulator announces working hours for holy month of Ramadan    Maha karara joins AAIB as Head of Corporate Communications, Sustainability    Egypt works on charting cooperation strategies with international institutions for 5 years: Al-Mashat    Over 2.4 million newborns examined for hearing impairment: Health Ministry    Netflix releases trailer of Arab adaption of 'Perfect Strangers' film    Balqees to headline concert celebrating launch of streaming giant LIVENow in MENA    Sawsan Badr to be honoured at Aswan Women Film Festival    MP Abdel Hady Al-Qasby calls government to facilitate and support NGOs    Al-Sisi follows up on 'Great Transfiguration Project' in St. Catherine    Cairo, London stress need to strengthen cooperation to face climate change    Foreigners account for 22.6% of Egypt's T-bills issuances in 1H 2021: CBE    Egypt's ambassador to Italy passes away    Egypt confirms readiness to help African countries face terrorism and extremism    An estimated 235 million people needed humanitarian assistance and protection in 2021, an increase of 40% compared to 2020: IOM Egypt    Egypt, DRC discuss water cooperation during WYF    Egypt, DR Congo discuss boosting bilateral cooperation during WYF    Cameroonian police probe assault on three Algerian journalists covering AFCON    Pharaohs start AFCON 2021 campaign with fierce clash against Nigeria    Foreign Ministry opens capacity building course for French-speaking African diplomats    Egypt's trade with Nile basin countries climbs 26% y-o-y in 9 months    Ethiopia halts work at its embassy in Egypt for 'economic reasons'    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    

Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.

Egypt works on charting cooperation strategies with international institutions for 5 years: Al-Mashat
Published in Daily News Egypt on 15 - 01 - 2022

Minister of International Cooperation Rania Al-Mashat said that her ministry is currently working in coordination with all ministries and concerned development partners to chart future cooperation strategies with international institutions for the next five years.
This will ensure that all presidential initiatives and government priorities are included in these strategies, such as the Decent Life Presidential Initiative.
The minister explained in a panel session during the World Youth Forum that the ministry is coordinating with all international financing institutions and multilateral development banks through a new framework for international cooperation that consists of three principles: Multi-stakeholder platforms for streamlining projects, ODA-SDG mapping to ensure transparency and identify funding gaps, and the Global Partnerships Narrative to document success stories for other countries, particularly countries in the South, and future projects.
Through this framework, the ministry aims to maximise social, economic, and environmental benefits from development finance, and ensure the consistency of development projects with national priorities and the sustainable development goals.
The multi-stakeholder platforms are carried out through a participatory approach that includes a variety of stakeholders, such as the private sector, civil society institutions, and relevant ministers to push ahead with reforms and the priorities needed to move forward in the implementation of the projects.
She also referred to the study held by the ministry with the Organisation for Economic Cooperation and Development in 2019 on how to enhance the role of the private sector, and one of the important recommendations was the need to expand innovative financing.
The current portfolio amounts to $26bn to achieve the goals of clean affordable energy (Goal 7); clean water and sanitation (Goal 6); and industry, innovation, and infrastructure (Goal 9), reflecting Egypt's commitment to governance, transparency, and ESG principles.
Development financing is also provided to support the private sector as well, not just the government, the minister noted. During 2020, the private sector obtained development financing worth $3.2 bn in the form of credit lines to banks out of a total of $9.8 bn in total financing.
Since the United Nations' Conference of Parties on Climate Change (COP27) will be held in Sharm El-Sheikh, Egypt this year, there is a need to adopt a common framework for blended financing to reduce risks in investing in developing countries and address climate change, as developing countries face obstacles in obtaining funds to promote a green transformation.

Clic here to read the story from its source.