$8.7B in development financing during 2021: Minister

CAIRO - 4 July 2022: Development financing for each sector of the total various development funds during 2021 amounted to $8.7 billion; 18 percent of which is for agriculture, irrigation and food security, 13 percent for transport and communications, 12 percent for energy, and 19 percent for budget support.

 

This came during a meeting of the Minister of International Cooperation, Rania al-Mashat with the Human Rights Committee of the House of Representatives headed by Representative Tarek Radwan, and in the presence of Representative Mohamed Abdel Aziz, the committee’s deputy, and members of the Human Rights Committee, according to a statement, Monday.

 

Al-Mashat added that international institutions witnessed the boom that was achieved at the level of all development axes in Egypt during the past seven years, as they implemented projects in various sectors of the state that were not achieved over 10 years, culminating in the presidential initiative for the integrated development of the Egyptian countryside, Hayah Karima "a decent life", which aims to bring about a qualitative change in the lives of more than half of the Egyptian population living in 4,500 villages.

 

She said that the Ministry of International Cooperation has established, over the past two years, a framework for international cooperation and development finance, to maximize the benefit from joint work with development partners, ensure projects are consistent with national priorities and sustainable development goals, and improve development cooperation management to effectively implement projects.

 

The minister noted that to put national priorities into practice, the Ministry of International Cooperation carried out a pioneering experiment based on the standards and methodologies of the United Nations and the Organization for Economic Cooperation and Development, through which development funds were matched with the sustainable development goals, to accurately determine the contribution of these funds to the implementation of the country's vision to achieve the UN goals.