Multilateral and Bilateral Partnerships
Held on the sidelines of the WB annual meetings in Washington on Thursday, their meeting discussed private sector financing, capital market development, and restructuring the global financial system.
Al-Mashat noted the historical significance of Egypt's partnership with the AfDB, pointing out that the country is a founding member and contributed approximately 12.5 percent of the bank's initial capital.
A key focus of the meeting was on entrepreneurship, with Al-Mashat introducing Egypt's new Entrepreneurship Taskforce, aimed at supporting startups and creating a favorable business environment for this dynamic sector
With French investments in Egypt totaling €7 billion across 180 projects, France is recognized as one of Egypt's largest investors, explained El Khatib. contributing to approximately 50,000 jobs in various sectors, including manufacturing and telecommunications
On his first visit around the region since his appointment, Jalel Trabelsi, the Special Envoy of the African Development Bank (AfDB), praised Egypt's crucial role in advancing the continent's regional integration agenda and fostering trade and investment
He reaffirmed the Egyptian government’s commitment to tackling the remaining 25 percent of issues to enhance the investment climate further.
Madbouly emphasized the government’s commitment to resolving these issues by the end of 2024 and highlighted the ongoing efforts to facilitate smoother interactions with Saudi investors.
Madbouly emphasized the government’s commitment to resolving these issues by the end of 2024 and highlighted the ongoing efforts to facilitate smoother interactions with Saudi investors.
The minister noted that upcoming financial policies are expected to significantly influence risk management and economic competitiveness
On behalf of President El Sisi, Prime Minister Mostafa Madbouly addressed the second high-level session of the Forum on China-Africa Cooperation (FOCAC), focusing on economic opportunities and strategic investments
Al-Mashat emphasized the significant potential for economic, trade, and investment relations between the two countries, given their pivotal roles in the regional and global economy
Madbouly, who is attending the China-Africa Cooperation Forum (FOCAC), met with Zhao on Wednesday, praising China for its achievements in construction and urban development, positioning it as a vital ally in addressing global challenges
Al Mashat noted the issue of financing gaps in development, advocating for blended finance approache that merge public and private investments and stressing that integrating multilateral development banks and governments is vital to advancing development goals
The discussions centered on expanding bilateral relations and bolstering partnerships, particularly in key sectors identified as priorities by Egypt
The agreements, between the Sovereign Fund of Egypt (TSFE) and European developers, aim to bolster Egypt's renewable energy infrastructure, explained a cabinet statement on Sunday
On the sidelines of day two of the Egypt-EU investment conference, PM Madbouly underscored Egypt's commitment to economic reform and its impact on fostering a conducive investment climate, citing achievements such as stabilizing the foreign exchange rate and supporting the private sector
In an official statement from the MoIC, Quaroni shared that the Italian government is taking a keen interest in supporting the sectors targeted by Egypt’s Nexus of Water, Food and Energy (NWFE) Program
According to the ministry, $28.5 billion was allocated to various sectors while $10.3 billion has been channeled into the private sector, particularly focusing on initiatives related to climate action, development, and empowering the private sector
Egypt’s current cooperation portfolio with the IFC is to approximately $1.84 billion across multiple sectors, with an additional $26.8 million injected into private sector investments during January 2024
Minister of MoIC, Rania Al-Mashat, recently met with Italian Deputy Minister of Foreign Affairs and International Cooperation, Edmondo Cirelli, to discuss bilateral cooperation programs and debt swap arrangements
