Planning min.: State gives priority to sustainable financing

CAIRO - 9 December 2020: Minister of Planning and Economic Development Hala el Saeed has said the State gives a top priority to sustainable financing and seeks to get the investment climate to cope with the green economy principles.

She noted that the cabinet has recently endorsed the sustainable environment guide, adding that the state issued its first green bonds - the first in the Middle East - to be used in funding projects of clean transport, renewable energy and water management, the Ministry of Planning said in a statement on Wednesday.


Such investments go in line with the government's strategy to diversify its economic resources within the framework of the second stage of the economic reform program.


Saeed made the remarks during a virtual symposium organized under the patronage of USAID in tandem with the International Food Policy Research Institute (IFPRI).


During the seminar, the minister thanked the USAID and IFPRI for organizing the event which came in due time to tackle Egypt's plans under COVID-19 challenges.


She referred to several agreements between Egypt, the USAID and IFPRI which addressed food security and means of boosting income of rural communities.


She noted that this has contributed to mitigating the impact on economic sectors.


She noted that the state has taken all needed preventive measures to alleviate the negative impact of the crisis, noting that about 448 policies for backing various social strata, especially needy people, were forged in the period from February until now.


She added that the coronavirus crisis underscored the importance of social solidarity as one of the most important economic axes.


She highlighted the role of the private sector to promote flexibility and effectiveness of the labor market through education and advanced technical training.


As for digital economy, she said the world has realized the importance of digitalization over the past year, therefore the state is expediting efforts to develop communications and IT technology.