Cairo – Mubasher: The Egyptian Minister of International Cooperation, Rania El- Mashat, is launching on Tuesday a book documenting Egypt’s pioneering experience in international cooperation and development financing through the principles of economic diplomacy.
The book, launched by El-Mashat and Randa Hamza, Assistant Minister of International Cooperation for Planning and Monitoring, is titled “Stakeholder Engagement Through Economic Diplomacy.”
It showcases Egypt’s pioneering experience in the field of international cooperation and development finance and is going to be published by the London School of Economics, according to an announcement by the Ministry of International Cooperation.
The launch event will be held in the presence of Minouche Shafik, Director of the London School of Economics; Carmen Reinhart, Vice President and Chief Economist of the World Bank Group and Professor at Harvard University; and Eric Berglöf, Chief Economist at the Asian Infrastructure Investment Bank. Representatives from the United Nations (UN), the Organisation for Economic Co-operation and Development (OECD) and from many other international financial institutions will also be attending.
The book highlights the ministry’s establishment of an institutional framework for Economic Diplomacy for Egypt. The framework aims to consolidate Egypt's economic relations with multilateral and bilateral development partners to enhance international cooperation and development financing.
The book also promotes Egypt’s successful development endeavours and serves as a manual for developing and emerging countries to transfer knowledge and experience.
Presenting the modern international methodologies in the field of international cooperation and sustainable development, the book is elucidating how the Ministry of International Cooperation has been actively implementing these methodologies in Egypt. The ministry seeks to utilise modern tools to foster impactful international partnerships with multilateral and bilateral development partners and to accelerate the implementation of Egypt’s Vision 2030 and the 17 UN SDGs.
El-Mashat presented to President Abdel Fattah El-Sisi the efforts invested in curating the content of the book in order to document Egypt’s pioneering experience in international cooperation and development finance, crafting a model for other emerging and developing countries.
“Egypt is pioneering in the implementation of the global sustainability targets, mitigating the socioeconomic challenges in the last few years,” the ministry emphasised.
Pushing towards the SDGs, the minister launches the full map for the allocation of the Official Development Assistance (ODA) to the Sustainable Development Goals (SDGs). The map showcases the Ministry of International Cooperation’s portfolio of projects and the allocation of the $25 billion development financing across the 377 projects.
The ODA-SDG Mapping identifies the projects implemented within the framework of each sustainability goal, as well as the development partner that finances the project, the sector in focus, and the beneficiaries from the public and private sectors. In addition, the map keeps track of the impact and efficiency of the multilateral and bilateral partnerships, as well as the push towards achieving national and global development agendas.
The Ministry of International Cooperation works in accordance with Presidential Decree No. 303 of 2004 to develop and strengthen economic cooperation relations between the Arab Republic of Egypt, other countries, and international and regional organisations. The decree proposes standards and regulations for external borrowing and foreign grants, monitoring local borrowing entities, and the reimbursement and the follow-up on the beneficiaries. It further coordinates the economic relations of Egypt with economic cooperation institutions, international financial institutions, and specialised agencies of the United Nations.
