By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    European Commission VP visits Egypt to discuss education, mobility, and migration issues
    European Commission VP visits Egypt to discuss education, mobility, and migration issues
    March 27, 2023
    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
    Tabarak Holding launches 4 exhibitions in Gulf region for Egyptian property export
    Tabarak Holding launches 4 exhibitions in Gulf region for Egyptian property export
    March 27, 2023
    Eight Developments, Gaballah Group sign contract with Mission 235 for Revolve Mall management
    Eight Developments, Gaballah Group sign contract with Mission 235 for Revolve Mall management
    March 27, 2023
    Survivors of Cyclone Freddy in Malawi yearn for fresh start
    Survivors of Cyclone Freddy in Malawi yearn for fresh start
    March 27, 2023
  • Politics
    PoliticsShow More
    Somalia says army kills over 3,000 Al-Shabab militants in 6 months
    Somalia says army kills over 3,000 Al-Shabab militants in 6 months
    March 27, 2023
    Afghan security forces discover IS weaponry in northern province
    Afghan security forces discover IS weaponry in northern province
    March 27, 2023
    Egypt, EU discuss efforts to tackle illegal migration
    Egypt, EU discuss efforts to tackle illegal migration
    March 27, 2023
    Health Ministry receive over 2 million doses of ‘modified’ Pfizer vaccine for COVID-19
    Health Ministry receive over 2 million doses of ‘modified’ Pfizer vaccine for COVID-19
    March 27, 2023
    Israeli Prime Minister Benjamin Netanyahu fired Defense Minister Yoav Gallant who urged a halt to judicial overhaul
    Israeli PM sacks defence minister who urged a halt to judicial overhaul
    March 27, 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: Egypt’s International Cooperation Minister participates in intergovernmental G24 meeting
Share
Notification
Latest News
European Commission VP visits Egypt to discuss education, mobility, and migration issues
European Commission VP visits Egypt to discuss education, mobility, and migration issues
Business
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
Business Interviews
Tabarak Holding launches 4 exhibitions in Gulf region for Egyptian property export
Tabarak Holding launches 4 exhibitions in Gulf region for Egyptian property export
Business
Eight Developments, Gaballah Group sign contract with Mission 235 for Revolve Mall management
Eight Developments, Gaballah Group sign contract with Mission 235 for Revolve Mall management
Business
US nuclear power plant in central Minnesota taken offline after new leak incident
US nuclear power plant in central Minnesota taken offline after new leak incident
Egypt
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 > Egypt’s International Cooperation Minister participates in intergovernmental G24 meeting
Business

Egypt’s International Cooperation Minister participates in intergovernmental G24 meeting

Daily News Egypt
Last updated: 2022/04/23 at 4:37 PM
By Daily News Egypt 4 Min Read
Share
SHARE

Minister of International Cooperation Rania Al-Mashat participated in the Intergovernmental G24 Ministers and Governors Meeting that was held on Friday in conjunction with the World Bank Group (WBG) and International Monetary Fund’s (IMF) 2022 Spring Meetings.

This included the participation of Managing Director of the IMF Kristalina Georgieva and President of the WBG David Malpass.

The meeting witnessed discussions on the international economic situation, the various challenges facing development efforts globally — especially developing and emerging countries — the repercussions of the COVID-19 pandemic, and climate challenges.

Al-Mashat pointed out the risks surrounding the current global economic situation due to high inflation rates, supply chain challenges, and the Russian-Ukrainian conflict, saying that the current global situation necessitates continuous international cooperation and coordination to develop solutions and support from international financial institutions, the IMF, and the WBG in developing and emerging countries.

She explained that the aforementioned challenges cause a multiplier effect, especially as they coincide with the global plans to develop innovative solutions to overcome and mitigate the effects of climate changes, adding that the current state of affairs requires effective international cooperation and continued joint action to achieve sustainable development.

The minister also said that the world needs effective private sector participation across all countries to implement development projects and support government efforts in the national agenda, noting the importance of the International Finance Corporation (IFC) in developing mechanisms to address economic and social challenges and to empower countries — especially emerging and developing economies — whilst encouraging private sector participation.

It is worth noting that the G24 meeting was chaired by President of the Central Bank of Guatemala Sergio Francisco Recinos Rivera, who stressed the importance of continued and close multilateral cooperation to maintain rule-based trade, food, and energy security; financial stability; and increasing financing for developing economies.

Furthermore, the G24 communique called for urgent and stronger global responses to COVID-19 vaccine access and distribution — especially in low-income economies — explaining that countries should overcome supply barriers by facilitating timely cross border flows of vaccines and treatments and sharing technologies to enhance their supply.

It also called for the WBG and other multilateral development banks to strengthen their balance sheets to the fullest extent possible, boosting lending capacity while preserving financial prudence and resilience.

Furthermore, it stressed the need for an increase in funding provided by multilateral development banks to support public investments needed to stimulate post-pandemic recovery, address the main drivers of inequality, confront the education crisis, and prevent deep economic impacts.

The G24 also called on the WBG to develop a medium-term strategy for middle-income countries, considering their evolving landscape and circumstance, as many of them face challenges in transforming their economies to improve their medium-term growth prospects and reduce high levels of poverty and inequality.

You Might Also Like

European Commission VP visits Egypt to discuss education, mobility, and migration issues

Developers have to offer innovative products, state should provide more facilities to stimulate industry: Kareem Mamoun

Tabarak Holding launches 4 exhibitions in Gulf region for Egyptian property export

Eight Developments, Gaballah Group sign contract with Mission 235 for Revolve Mall management

Survivors of Cyclone Freddy in Malawi yearn for fresh start

TAGGED: G24 meeting, International Cooperation Minister
Share this Article
Facebook Twitter Email Print
Previous Article Egypt has $26bn development portfolio under 2030 Vision: Al-Mashat
Next Article NTRA adds e-wallets to ‘My NTRA’ interactive services
Ad image

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

European Commission VP visits Egypt to discuss education, mobility, and migration issues
European Commission VP visits Egypt to discuss education, mobility, and migration issues
Business
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
Business Interviews
Tabarak Holding launches 4 exhibitions in Gulf region for Egyptian property export
Tabarak Holding launches 4 exhibitions in Gulf region for Egyptian property export
Business
Eight Developments, Gaballah Group sign contract with Mission 235 for Revolve Mall management
Eight Developments, Gaballah Group sign contract with Mission 235 for Revolve Mall management
Business
//
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?