During the week, the Minister of International Cooperation in Egypt, Rania Al-Mashat, held a meeting with Soha Ali, the Executive Director and Senior Country Representative of JPMorgan Chase Egypt, alongside a group of investors and officials from investment funds around the world.
The discussion at the meeting centered around ways to enhance collaboration in advocating for investments, financial services, and development solutions. The participants also delved into the topic of development financing, with the aim of encouraging greater private sector participation in development.
At the meeting, the minister provided a detailed explanation of the framework of international cooperation and development financing, highlighting the ministry’s role in fostering economic relations with multilateral and bilateral development partners, global and regional institutions. She also emphasized the critical role that international banks play in bolstering sustainable development initiatives through the attraction of investments and the promotion of the transition towards a green economy.
Further discussions at the meeting centered around global economic developments and their impact on emerging and developing economies. The participants agreed on the need for enhanced multi-stakeholder cooperation, as well as coordinated efforts between financial institutions, the private sector, non-profit organizations, and governments. This collaboration would be crucial in supporting the achievement of sustainable development goals, fulfilling climate commitments, and providing equitable financing.
During the meeting, Ali reaffirmed JPMorgan Chase’s commitment to its operations in Egypt. She also expressed the company’s desire to strengthen its relationship with the government, financial institutions, and companies to support economic development efforts and stimulate private sector investments.
Al-Mashat also presented the details of the national platform for the Nexus of Water, Food, and Energy (NWFE) program, which links water, food, and energy projects. She explained that the program serves as a model for developing countries and emerging economies to stimulate climate investments and provide attractive investment projects in the fields of mitigation and adaptation to climate change.
The program also aims to enhance private sector investments in priority water, food, and energy projects through blended financing. The participants discussed ways to collaborate with JPMorgan Chase in mobilizing funding for the program’s projects.
