By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    How do economic conditions affect valuation of companies set for IPO?
    How do economic conditions affect valuation of companies set for IPO?
    March 29, 2023
    TSFE to transform Interior Ministry’s former headquarters into Cairo’s 1st innovation district
    TSFE to transform Interior Ministry’s former headquarters into Cairo’s 1st innovation district
    March 29, 2023
    World-leading UK hospital signs partnership with specialist healthcare investment firm, Elevate
    World-leading UK hospital signs partnership with specialist healthcare investment firm, Elevate
    March 28, 2023
    EFG Hermes closes EGP 193.65m securitized bond issuance for Premium International
    March 28, 2023
    Australian government strikes deal on climate policy
    Australian government strikes deal on climate policy
    March 28, 2023
  • Politics
    PoliticsShow More
    Palestine warns against unaccountable, unrestrained fascism of Israeli officials
    Palestine warns against unaccountable, unrestrained fascism of Israeli officials
    March 29, 2023
    Al-Sisi follows up on development of sea, dry, and land ports
    Al-Sisi follows up on development of sea, dry, and land ports
    March 29, 2023
    Iranian, Saudi FMs discuss imminent bilateral meeting in phone call
    Iranian, Saudi FMs discuss imminent bilateral meeting in phone call
    March 28, 2023
    Kenyan police clash with anti-government protesters
    Kenyan police clash with anti-government protesters
    March 28, 2023
    Russia to stay in World Trade Organization: Russian diplomat
    Russia to stay in World Trade Organization: Russian diplomat
    March 28, 2023
  • Interviews
    InterviewsShow More
    Developers have to offer innovative products, state should provide more facilities to stimulate industry: Kareem Mamoun
    Developers have to offer innovative products, state should provide more facilities to stimulate industry: Kareem Mamoun
    March 27, 2023
    Government should help Egyptian arts revive its pioneering role: Omar Abdel Aziz
    Government should help Egyptian arts revive its pioneering role: Omar Abdel Aziz
    March 15, 2023
    Interconnected healthcare systems in Africa require political will from North African leaders: Amref official
    Interconnected healthcare systems in Africa require political will from North African leaders: Amref official
    March 12, 2023
    EGX ready for government’s IPOs programme: Chairperson
    EGX ready for government’s IPOs programme: Chairperson
    February 15, 2023
    British International Investment invests $4.5bn in 700 businesses across Africa: Sherine Shohdy
    February 15, 2023
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Reading: Engaged private sector is key theme for Egypt in 2021: Al-Mashat
Share
Notification
Latest News
How do economic conditions affect valuation of companies set for IPO?
How do economic conditions affect valuation of companies set for IPO?
Business
TSFE to transform Interior Ministry’s former headquarters into Cairo’s 1st innovation district
TSFE to transform Interior Ministry’s former headquarters into Cairo’s 1st innovation district
Business
Palestine warns against unaccountable, unrestrained fascism of Israeli officials
Palestine warns against unaccountable, unrestrained fascism of Israeli officials
Region Politics
Al-Sisi follows up on development of sea, dry, and land ports
Al-Sisi follows up on development of sea, dry, and land ports
Politics Egypt
World-leading UK hospital signs partnership with specialist healthcare investment firm, Elevate
World-leading UK hospital signs partnership with specialist healthcare investment firm, Elevate
Business
Aa
Aa
DailynewsegyptDailynewsegypt
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Have an existing account? Sign In
Follow US
  • Advertise
© 2023 DNE News. All Rights Reserved.
Dailynewsegypt > Blog > Business > Economy > Engaged private sector is key theme for Egypt in 2021: Al-Mashat
BusinessEconomy

Engaged private sector is key theme for Egypt in 2021: Al-Mashat

Nehal Samir
Last updated: 2020/12/28 at 5:44 PM
By Nehal Samir 3 Min Read
Share
Rania Al-Mashat
SHARE

Egypt’s aim of scaling up its engagement with the private sector in 2021 is expected to be a key theme for the upcoming year, according to Minister of International Cooperation Rania Al-Mashat.

During an interview with Bloomberg TV, Minister Al-Mashat said that one-third of total development financing was dedicated to the private sector in 2020, accounting for $3.1bn out of a total of $9.8bn.

The minister underlined that this is an opportunity to showcase Egypt’s past successes in securing development financing. This has, in return, led to increased confidence and enthusiasm for investors to provide more development financing, despite the shortcomings of the novel coronavirus (COVID-19) pandemic.

She also said that multilateralism was vital in helping Egypt march ahead with achieving the UN’s 17 Sustainable Development Goals (SDGs) in all of its development projects. This includes a cooperation portfolio with a total of 377 projects worth $25 bn.

The top three funded sectors, which collectively received 62% of ODA financing, are: Goal 7 for Affordable and Clean Energy; Goal 9 relating to Industries, Innovations and Infrastructure; and Goal 6 relating to Clean Water and Sanitation.

For Goal 7, the minister referred to the Benban Solar Park project in Aswan, which was carried out with the cooperation of 45 private companies, as evidence of Egypt’s engagement with the private sector. There are currently 34 projects worth $5,950m under Goal 7; 36 projects worth $5,737m under Goal 9; and 43 projects worth $4,999m under Goal 6.

Minister Al-Mashat added that green growth and environmental initiatives have also recently become a top priority, which aligns global and national priorities. In return, it reinforces Egypt’s commitment to deepen its engagement with the private sector, to encourage innovation and growth according to the environmental, social, and governance (ESG) principles.

Egypt recently issued the first green bonds in the Middle East and North Africa (MENA) region. The move reaffirms the country’s commitment to engage with the private sector and investors in green financing and sustainable development projects, Minister Al-Mashat said.

The report, entitled ‘International Partnerships for Sustainable Development’, tracks Egypt’s progress towards the 17 SDGs.

The report draws on the latest available data found in the Ministry’s ODA SDG mapping exercise, and provides an overview of Egypt’s implementation efforts. It highlights areas of progress and the implications of the COVID-19 pandemic on each SDG.

To reflect the changing global dynamic amid the global health crisis, the Ministry of International Cooperation has been working to apply the three principles of economic diplomacy. These are: organising multi-stakeholder platforms; ODA SDG mapping; and the Global Partnerships Narrative (People&Projects&Purpose).

You Might Also Like

How do economic conditions affect valuation of companies set for IPO?

TSFE to transform Interior Ministry’s former headquarters into Cairo’s 1st innovation district

World-leading UK hospital signs partnership with specialist healthcare investment firm, Elevate

EFG Hermes closes EGP 193.65m securitized bond issuance for Premium International

Australian government strikes deal on climate policy

TAGGED: Egypt, financing, Ministry of International Cooperation, Private sector
Share this Article
Facebook Twitter Email Print
Previous Article housing units Government builds 103,000 housing units worth EGP 23.5bn in 2020
Next Article Egypt’s Minister of Foreign Affairs Sameh Shoukry received a phone call, on Monday, from his Japanese counterpart Toshimitsu Motegi, during which they discussed ways of strengthening relations between the two countries in various fields. Egypt, Japan Foreign Ministers tackle bilateral relations, regional issues
Ad image

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

How do economic conditions affect valuation of companies set for IPO?
How do economic conditions affect valuation of companies set for IPO?
Business
TSFE to transform Interior Ministry’s former headquarters into Cairo’s 1st innovation district
TSFE to transform Interior Ministry’s former headquarters into Cairo’s 1st innovation district
Business
Palestine warns against unaccountable, unrestrained fascism of Israeli officials
Palestine warns against unaccountable, unrestrained fascism of Israeli officials
Region Politics
Al-Sisi follows up on development of sea, dry, and land ports
Al-Sisi follows up on development of sea, dry, and land ports
Politics Egypt
//
Egypt’s only independent daily newspaper in English. Discuss the country’s latest with the paper’s reporters, editors, and other readers.

Quick Link

  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

© 2023 DNE News. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?