Dr. Rania Al-Mashat, Egypt’s Minister of Planning and Economic Development and International Cooperation, met with Gareth Bayley, the British Ambassador to Egypt, at the ministry’s headquarters in the New Administrative Capital. The meeting focused on recent developments in bilateral cooperation, particularly in sustainable green transformation and private sector empowerment. \n\nMinister Al-Mashat highlighted the strong economic ties between the two nations, noting the significant role of British financial institutions in diversifying funding mechanisms for the private sector. She praised the UK’s support for structural reforms through the Development Policy Financing program, implemented in collaboration with the World Bank. The discussion also covered cooperation within the national platform of the “Nuwafee” program to boost climate investments in water, food, energy, and sustainable transport, with preparations underway for COP30 in Brazil. \n\nThe minister emphasized the UK’s active role in launching the “Hafez” platform, which supports the private sector by providing financial and technical services. Initiatives include the Climate Finance Accelerator (CFA) and the A2D program for clean energy research and development. \n\nThe meeting also addressed expanding British financing programs for development projects in Egypt, focusing on innovative funding for small and medium-sized enterprises. Al-Mashat invited the British ambassador to participate in the upcoming Development Financing Conference to empower the private sector, organized by the Ministry of Planning and Economic Development. \n\nThe trade relationship between Egypt and the UK has seen notable growth, with bilateral trade reaching £4.7 billion in 2024, reflecting the robust economic partnership. The UK ranks among the largest foreign investors in Egypt, with British institutions like BII and UK Export Finance contributing to business innovation and development. \n— new from Ahdath Al Youm
