In a landmark event attended by Dr. Mostafa Madbouly, Prime Minister of Egypt, Dr. Rania Al-Mashat, Minister of Planning and Economic Development and International Cooperation, presented Egypt’s first-ever National Integrated Financing Strategy (E-INFS), marking a significant step toward sustainable development. The strategy aligns with Egypt’s Vision 2030 and aims to address the country’s financing needs for achieving the Sustainable Development Goals (SDGs).
The event, which also featured prominent figures such as Dr. Khaled Abdel Ghaffar, Deputy Prime Minister and Minister of Health and Population, and representatives from UN agencies and international financial institutions, highlighted the critical role of integrated financing frameworks in meeting the growing financial challenges of developing nations.
The E-INFS: A Pioneering National Strategy
Dr. Al-Mashat emphasized that Egypt’s National Integrated Financing Strategy (E-INFS) is the country’s first national strategy specifically designed to address the financing gaps for achieving the SDGs. The strategy follows the global model known as the “Integrated National Financing Framework (INFF),” which provides a comprehensive approach to mobilizing and allocating resources in line with sustainable development objectives. The approach has been adopted by 86 countries worldwide, many of which have successfully mobilized financing from diverse sources to meet their SDG targets.
The strategy’s implementation involves collaboration between Egypt’s Ministry of Planning and Economic Development, the UN Resident Coordinator in Egypt, and key UN agencies, including the UN Development Programme (UNDP), the International Labour Organization (ILO), UNICEF, UN Women, and the UN Conference on Trade and Development (UNCTAD). Dr. Al-Mashat also outlined the strategic framework’s goal to address three key questions: the required financing to achieve the SDGs, current financial flows and their allocation, and opportunities for increasing and diversifying financial resources.
A Shift Toward Inclusive Financing for Sustainable Growth
The strategy seeks to bridge financing gaps by transitioning from traditional financing mechanisms to more inclusive and innovative approaches. The aim is to enhance the alignment of public and private financing with Egypt’s national priorities, particularly in the sectors of climate change, social protection, education, health, sanitation, and transport.
Dr. Al-Mashat explained that the strategy will mobilize sustainable funding by improving public-private sector partnerships and maximizing the efficiency of public spending. The initiative will also help to identify innovative financing models, including the use of blended finance tools, green bonds, and other innovative financial instruments aimed at achieving sustainable development.
Prioritizing Key Sectors
Seven priority sectors have been identified to accelerate progress toward the SDGs: climate change and social protection, education, health, women’s empowerment, sanitation, transportation, and climate action.
The strategy also provides a clear roadmap for public and private financing flows, with a focus on reducing fiscal risks and expanding innovative funding mechanisms. It places significant emphasis on increasing transparency in government budgeting and boosting tax revenues to create a more sustainable financial ecosystem.
Harnessing Global and Local Financial Flows
The E-INFS will strengthen the capacity of Egypt’s financial systems to harness global and local financial flows to support national development goals. The strategy advocates for the establishment of a robust framework to coordinate between national and international stakeholders, ensuring that financial resources are efficiently allocated towards high-impact projects. Key measures include tax reforms, debt sustainability, and increased foreign direct investment (FDI) to support infrastructure and climate projects.
One notable aspect of the strategy is the “NuFi” program, which serves as a national platform to integrate innovative and blended financing mechanisms, designed to drive both development and climate action initiatives.
Institutional Integration for Effective Implementation
As part of the structural changes within Egypt’s Ministry of Planning and Economic Development, the integration of the ministry’s functions has bolstered efforts to drive sustainable development financing. The strategy aligns with Egypt’s broader economic goals, including enhancing the competitiveness of its economy and strengthening public financial management systems.
Dr. Al-Mashat highlighted that the ministry’s new approach aims to harmonize national and international development strategies, focusing on aligning the SDGs with Egypt’s national planning processes. This integrated approach is essential to achieving the country’s development targets and creating a lasting impact on the economy, society, and environment.
Global Context and the Addis Ababa Action Agenda
The National Integrated Financing Strategy is aligned with the principles outlined in the Addis Ababa Action Agenda (AAAA) of 2015, which provided a global framework for financing the SDGs. Dr. Al-Mashat emphasized that the AAAA laid the foundation for integrated national financing frameworks, which are critical for mobilizing resources to achieve the SDGs while addressing the challenges posed by debt and limited fiscal space in developing countries.
Moving Forward with a Unified Vision
With the launch of the National Integrated Financing Strategy, Egypt has positioned itself as a leader in sustainable financing practices, leveraging both domestic and international financial flows to address its development needs. The strategy’s comprehensive approach to financing, coupled with the commitment to transparency and innovation, will play a crucial role in Egypt’s efforts to meet its SDG targets and foster long-term sustainable development.
As Dr. Al-Mashat concluded, the success of the strategy depends on continued coordination between the public and private sectors, international partners, and the Egyptian people. By building a resilient and innovative financial system, Egypt is well on its way to achieving its sustainable development goals and ensuring a prosperous future for all its citizens.
