The Ministry of Planning, Economic Development, and International Cooperation is set to host the conference “Development Financing to Empower the Private Sector: Economic Growth and Employment” on Sunday in the New Administrative Capital. The event will take place under the patronage of Prime Minister Dr. Mostafa Madbouly and will involve participation from numerous ministers, development partners, the European Union in Egypt, international institutions, and private sector companies.
The conference will highlight efforts made over the past five years in development financing to empower the private sector and enhance its role in economic growth and job creation. New financing mechanisms and agreements will be announced in collaboration with development partners to fund the private sector in Egypt. Additionally, several new project agreements between the private sector and development partners will be signed, and the expansion of the “Hafez” platform for financial and technical support to the private sector will be unveiled.
Dr. Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, emphasized in a statement that the conference sheds light on development financing as a key tool that offers diversity in direct and indirect investments, risk mitigation instruments, investment guarantees, and technical support. This makes it a catalyst for private sector investments. She also noted that over the past five years, the ministry has established a framework for economic diplomacy to strengthen economic relations with multilateral and bilateral development partners, which has increased financing directed toward the private sector. Continued implementation of the national structural reform program and measures to improve the business environment are opening more opportunities for the private sector to contribute to economic growth and employment while enhancing its attractiveness to international financing institutions.
The sessions will explore ways to empower the private sector through an integrated system that includes improving the business environment, enhancing competitiveness, and developing institutional capabilities. It will also facilitate access to various financing tools, whether in the form of concessional development financing, equity partnerships, or tailored technical support based on the needs of each sector.
— new from almasdar.com