Minister of Planning, Economic Development, and International Cooperation, Rania Al-Mashat unveiled Egypt's Integrated National Financing Strategy on Monday. The launch took place at a high-level event organised by Egypt, the United Nations Development Programme (UNDP), and the European Union during the United Nations General Assembly's 79th session in New York. The strategy, a joint effort between the Egyptian government and the UN, aims to accelerate sustainable development in Egypt. It was developed under the guidance of UNDP's Financing Strategy for Sustainable Development Goals, with contributions from various international organisations, including the International Labour Organisation, UNCTAD, UNICEF, and UN Women, with support from the UN Joint Fund for Sustainable Development Goals. Minister Al-Mashat outlined the Integrated National Financing Strategy as a comprehensive framework designed to accelerate sustainable development in alignment with Egypt's national agenda and Vision 2030. The strategy prioritises mobilising sustainable financing to address funding gaps, mitigate financial risks, and reduce future debts, she added. It focuses on effective and targeted financing that aligns with the Egyptian leadership's emphasis on human capital investment for inclusive economic development, improved living standards, and enhanced skills across various sectors. Moreover, the strategy targets seven key sectors identified as national priorities: social protection, sanitation, health, transportation, education, climate change, and women's empowerment. These sectors, the minister explained, have direct and indirect implications for achieving broader development goals. To promote a transition from traditional financing to more comprehensive strategies, the strategy adopts a Financing for Sustainable Development (F2F) approach. It outlines a series of actions to close financing gaps, including conducting cost estimates for SDGs, expanding public-private partnerships, enhancing green banking, and supporting the digital economy. The strategy also aims to intensify financing for priority sectors and climate investments, increase foreign direct investment, improve incentives for localising SDGs, and enhance the alignment and effectiveness of development financing with sustainable development goals. Executive oversight and civil society supervision will ensure accountability and transparency. Minister Al-Mashat emphasised the strategy's flexibility to adapt to changing economic conditions and its co-operative framework for a dedicated and actionable roadmap for sustainable development financing in Egypt. For his part, Abdullah Al-Dardari, UNDP Director for Arab States and Assistant SG, stated, "The launch of Egypt's integrated national financing strategy is a prime example of how countries can take tangible steps to align financing flows with their developmental objectives."
