Egypt and African Development Bank present results of the joint country strategy for development cooperation

Egypt’s Minister of Planning, Economic Development and International Cooperation, Rania A. Al-Mashat, presented the interim results of the joint country strategy for development cooperation between Egypt and the African Development Bank (AfDB) for the period 2022-2026. 

Al-Mashat emphasised the significance of the partnership with AfDB, noting its alignment with Egypt's national development strategies, including Vision 2030 and the National Climate Change Strategy 2050. She emphasised the long-term nature of the cooperation, pointing out that Egypt is a founding member of AfDB and contributed 12.5 per cent to its capital. This is reported by Daily News Egypt, a partner of TV BRICS.

Since the launch of the cooperation strategy in 2022, AfDB has financed 14 operations in the public and private sectors worth US$1.46 billion. The partnership has strengthened development efforts in areas such as food security, private sector development, water desalinisation and treatment, and renewable energy projects. 

Al-Mashat also highlighted the ministry's efforts to align concessional financing with the Sustainable Development Goals (SDGs), improve project monitoring through the electronic AIMS system, and promote transparency and accountability in project development.

The minister presented the government's new programme for the period 2024-2027, which includes four main objectives: investing in human capital, building a competitive economy capable of attracting investment, industrial development and supporting entrepreneurship.