Egypt’s Minister of Planning, Rania Al-Mashat, met with Citigroup’s Vice Chairman, Jay Collins, and other senior officials. The discussions centered on exploring ways to enhance macroeconomic stability and empower the private sector in Egypt.
Minister Al-Mashat outlined her ministry’s pivotal role in supporting the country’s development efforts. She emphasized the importance of managing public investments at the governorate level, forging strategic partnerships with international development partners, and mobilizing resources to bridge the financing gap.
Citigroup’s Vice Chairman, Jay Collins, expressed the group’s keenness to strengthen its partnership with the Egyptian government. He highlighted Citigroup’s commitment to supporting economic and structural reforms, attracting foreign direct investments (FDIs), and fostering inclusive and sustainable economic growth.
During the meeting, Citigroup representatives presented potential solutions and policies to enhance macroeconomic stability, manage country-owned enterprises effectively, finance development, and support the transition in the energy sector. They also discussed mechanisms to accelerate foreign direct investment, encourage green investments, and develop a more conducive business environment.
The meeting underscored the importance of Egypt’s Country Platform “NWFE” program, which aims to enhance climate ambition, encourage green investments, and advance the government’s efforts in the field of green transformation.
Both parties agreed on the need to localize sustainable development in the governorates and increase the efficiency of local investments. The meeting also addressed government plans related to implementing the country ownership document and empowering the private sector.
As Egypt continues its journey towards economic growth and development, the collaboration between the Egyptian government and Citigroup offers promising prospects for enhancing macroeconomic stability and fostering a vibrant private sector.
