African sustainable development needs more int’l grants: OECD at Egypt-ICF

CAIRO - 8 September 2021: Africa received grants of $41.4 billion in 2018/2019, an amount that is not commensurate with the needs of the continent, said deputy secretary-general of the Organization for Economic Cooperation and Development, Jeffrey Schlagenhauf, on Wednesday. 

 

The fund is not enough to create sustainable development in a continent with many problems, Jeffrey Schlagenhauf added at the first edition of Egypt's International Cooperation Forum (Egypt-ICF). 

 

He called for mobilizing more funds from the international community and encouraging the private sector.

 

A system of multiple parties has proven effectiveness during the COVID-19 pandemic, and such cooperation is essential in the recovery from the impact of the pandemic, Jeffrey Schlagenhauf continued.

 

Egypt-ICF 2021 started its activities on Wednesday and will last for two days, under the auspices of President Abdel Fattah El-Sisi, President of the Republic, and in the presence of Prime Minister Mostafa Madbouly and a number of ministers and representatives Governments from Africa, Europe and Latin America, heads of international and regional financial institutions, representatives of the private sector, and the civil society.