Ministry of Planning Economic Development and International Cooperation
The agreements include a $230 million concessional development loan, equivalent to 35 billion Japanese yen, aimed at supporting Egypt’s budget and advancing critical structural reforms. Additionally, grants worth $4.3 million will be used to renovate the Cairo Opera House and expand agricultural mechanization, boosting public services and enhancing the livelihoods of small-scale farmers.
In her keynote address, Minister Al-Mashat emphasized the enduring strength of Egyptian-Japanese relations and their shared commitment to addressing development challenges. “Egyptian-Japanese partnerships reflect the importance of collaborative efforts to tackle development challenges,” Al-Mashat stated, highlighting the alignment of shared visions and priorities that have driven progress across key sectors.
The initiative will be executed in collaboration with the General Authority for Veterinary Services and other agencies, focusing on enhancing livestock management, improving animal health, and combating antibiotic-resistant microbes
These projects build on a robust history of cooperation in technical education between Egypt and Germany, with total funding reaching €121.5 million to date.
The program aims to boost renewable energy production, reduce reliance on thermal power plants, and support Egypt’s National Climate Change Strategy 2050.
The inaugural session aims to activate an updated economic cooperation agreement, replacing the one from 1964, under which 12 committee sessions were held, the last in 1993. Al-Mashat noted that the new agreement aligns with current economic needs and will foster collaboration in various areas of development and economic growth.
Al-Mashat described the EU as a “strategic partner” for Egypt, emphasizing their joint efforts in areas like food security, renewable energy, and digital transformation
This investment is part of Egypt’s broader development strategy under the “NWFE” program, which is aimed at supporting sustainable growth and accelerating the country’s transition to a green economy
She emphasized the importance of unlocking the sector’s vast potential by engaging the private sector and welcomed the IFC's expertise in this domain.
The discussions focused on expanding the cooperation portfolio and exploring new areas aligned with Egypt's governmental priorities.
Al Mashat presented the country’s recent economic and structural reforms, emphasizing the government's efforts to strengthen macroeconomic stability, enhance the business environment, and build a competitive, investment-friendly economy.
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.
She noted that the capital increase would enhance the IFC’s ability to expand its support to private companies.
The minister reiterated the government’s commitment to implementing effective measures to support macroeconomic stability
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
Highlighting the alarming rise in debt levels among developing nations, she explained that this was exacerbated by soaring debt servicing costs that limit fiscal space for achieving sustainable development goals
The Minister of Planning, Economic Development, and International Cooperation outlined the new operational framework following the merger of the two ministries, which aims for sustainable economic growth
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
Al Mashat spoke during a press conference earlier today to celebrate the government’s recent divestment from Tamweely Microfinance to an international consortium of investors
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