Cairo: Dr. Mostafa Madbouly, Prime Minister, participated today in the activities of the conference titled “Development Finance to Empower the Private Sector… Economic Growth and Employment,” organized by the Ministry of Planning, Economic Development, and International Cooperation in the New Administrative Capital. The event was held under the auspices of the Prime Minister and attended by several ministers, members of the Egyptian Parliament, ambassadors, heads of missions from partner countries, representatives of international institutions, development partners, and the European Union in Egypt, as well as private sector companies.
According to State Information Service Egypt, the conference commenced with a speech by Dr. Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation. She emphasized the Egyptian government’s commitment to implementing its national programme for structural reforms, focused on consolidating macroeconomic stability, improving competitiveness, and promoting the green transition to bolster private sector investments.
Dr. Rania Al-Mashat further elaborated on how these reforms provide a safeguard against challenges facing the Egyptian economy amidst delicate international circumstances, characterized by rising geopolitical tensions and protectionist measures.
Subsequent speeches were delivered by Mr. Mokhtar Diab, CEO of the International Finance Corporation, Ms. Giuseppina Gillioti, Vice President of the European Investment Bank, Mr. Mark Davis, Regional Director for the Southern and Eastern Mediterranean at the European Bank for Reconstruction and Development, and Mr. Stefano Sanino, Director General for Southern Mediterranean and Middle East Affairs at the European Commission.
The conference underscored the Ministry of Planning, Economic Development, and International Cooperation’s efforts to enhance development finance for the private sector over the past five years. A report detailing the mechanisms and volume of development finance for the private sector was launched. Additionally, an investment guarantee mechanism with the European Union, valued at pound 1.8 billion, was introduced, alongside several agreements between the ministry, development partners, the private sector, and business councils to expand the “Hafez” platform for financial and technical support for the private sector.