Egypt showcases ambition, heritage at National Day Celebration in Expo Osaka    EGP inches lower against USD at Wednesday's close    Remittances from Egyptians abroad surge 70% YoY in July–May: CBE    Sudan's ambassador to Egypt holds reconstruction talks on with Arab League    Egypt's current account gap narrows, but overall BoP records deficit    Egypt hosts international neurosurgery conference to drive medical innovation    World Bank proposes Egypt join new global health initiative    Egypt, India discuss expanding industrial, investment partnerships    Egypt's EDA discusses Johnson & Johnson's plans to expand investment in local pharmaceutical sector    I won't trade my identity to please market: Douzi    Egypt welcomes 25-nation statement urging end to Gaza war    Egypt, Senegal sign pharma MoU to unify regulatory standards    Famine kills more Gaza children as Israel tightens siege amid global outrage    Kuwait's Crown Prince, Egyptian minister discuss strengthening cooperation    Egyptian Drug Authority discusses plans for joint pharmaceutical plant in Zambia    Egypt's FM seeks deeper economic, security ties on five-nation West Africa tour    Two militants killed in foiled plot to revive 'Hasm' operations: Interior ministry    Egypt, Somalia discuss closer environmental cooperation    Egypt foils terrorist plot, kills two militants linked to Hasm group    Giza Pyramids' interior lighting updated with new LED system    Egypt's EHA, Huawei discuss enhanced digital health    Foreign, housing ministers discuss Egypt's role in African development push    Korea Culture Week in Egypt to blend K-Pop with traditional arts    Egypt, Uruguay eager to expand trade across key sectors    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    Egypt's Democratic Generation Party Evaluates 84 Candidates Ahead of Parliamentary Vote    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    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 pushes for inclusive dialogue on financing sustainable development at UN Forum
Published in Daily News Egypt on 28 - 04 - 2024

Egypt's Minister of Planning and Economic Development, Hala El-Said, participated virtually in a high-level session at the United Nations Economic and Social Council's Financing for Development Forum. The session's theme was "Enhancing Inclusive Dialogue on the Road to the Fourth Global Conference on Financing for Development."
El-Said emphasized the session's focus on financing the Sustainable Development Goals (SDGs) through integrated national financing frameworks. She highlighted its importance as a tool for identifying challenges and opportunities in achieving the SDGs.
The minister pointed out that financing remains a major hurdle for countries pursuing sustainable development. The COVID-19 pandemic and its subsequent global crises – economic, geopolitical, and environmental – have exacerbated this challenge. El-Said cited the 2024 Global Sustainable Development Report, which estimates an annual financing gap of $2.5trn to $4trn.
She further noted the Organisation for Economic Co-operation and Development's World Economic Outlook for 2023, which projected a 56% increase in the financing gap for developing countries.
El-Said underlined that, like many developing nations, Egypt has identified financing as a critical challenge in its national reports on achieving the 2030 Agenda.
El-Said highlighted the launch of Egypt's updated Vision 2030 in November 2023, with "financing" prioritized as a key enabler. This national agenda aims to bridge the financing gap by diversifying funding sources, removing barriers, and promoting innovative mechanisms. Ultimately, it contributes to achieving Egypt's Vision 2030, the UN Agenda 2030, and Africa's Agenda 2063.
The minister noted Egypt's collaboration with the League of Arab States in launching the first national report on Financing for Development (FfD) titled "Financing Sustainable Development in Egypt."
She elaborated on the ongoing cooperation between the Ministry of Planning and Economic Development and the United Nations. The ministry signed a cooperation program, "Financing Strategy for Sustainable Development Goals in Egypt," funded by the UN Joint SDG Fund. The program focuses on formulating a financing strategy for Egypt's SDGs, following the integrated national financing framework approach.
Moreover, El-Said explained that the program covers four key areas: estimating SDG costs by sector, mapping financial flows in relation to SDGs, implementing gender-responsive budgeting, and developing a financing strategy for SDGs. The program prioritizes vital sectors like education, health, social protection, water and sanitation, and transport. It also emphasizes promoting gender equality and environmental sustainability across all sectors.
Significantly, El-Said noted that Egypt has become the first country to comprehensively address the measurement of illicit financial flows.
El-Said discussed the close collaboration with the UN Economic and Social Commission for Western Asia (ESCWA) in preparing a blueprint report titled "Towards an Integrated National Financing Strategy." The report aligns with the aspirations of Egypt's Vision 2030, structural reform program, and sectoral development plans, including national efforts to transition to an SDG-focused budget.
El-Said concluded by highlighting the importance of continuous dialogue between key stakeholders. This dialogue is crucial for mobilizing local and international resources, attracting private sector participation, and fostering partnerships in financing SDGs. It also paves the way for innovative and sustainable financing solutions, while prioritizing resource allocation for key sectors to accelerate SDG achievement.
The minister stressed the significance of evidence-based financing for realizing sustainable development. The availability of effective institutions sound public policies, and continuous monitoring and evaluation are all vital for harnessing financial resources and achieving the SDGs.


Clic here to read the story from its source.