Egypt’s Planning Minister, Hala El-Said, called for a stronger focus on financing the Sustainable Development Goals (SDGs) during a high-level virtual session at the United Nations Economic and Social Council’s Financing for Development Forum.
The session, themed “Enhancing Inclusive Dialogue on the Road to the Fourth Global Conference on Financing for Development,” highlighted the importance of integrated national financing frameworks. El-Said emphasized these frameworks as a tool to identify challenges and opportunities for achieving the SDGs.
El-Said underlined the critical role of financing for developing countries like Egypt. She pointed to the COVID-19 pandemic and subsequent global crises as exacerbating the financing gap. Citing the 2024 Global Sustainable Development Report, El-Said noted the estimated annual gap of $2.5 trillion to $4 trillion.
El-Said outlined Egypt’s national efforts to address the financing challenge. The recently updated Vision 2030 prioritizes “financing” as a key enabler. This national agenda aims to bridge the gap by diversifying funding sources, removing barriers, and promoting innovative mechanisms. Ultimately, it contributes to achieving Egypt’s Vision 2030, the UN Agenda 2030, and Africa’s Agenda 2063.
El-Said highlighted Egypt’s collaboration on multiple fronts. The country partnered with the League of Arab States to launch the first national report on Financing for Development, titled “Financing Sustainable Development in Egypt.” The “Financing Strategy for Sustainable Development Goals in Egypt” program, funded by the UN Joint SDG Fund, focuses on formulating a financing strategy aligned with the integrated national financing framework approach.
The program covers key areas like estimating SDG costs, mapping financial flows, and developing a financing strategy. Through this program, Egypt has become the first country to comprehensively address the measurement of illicit financial flows.
Further, El-Said also discussed the collaboration with the UN Economic and Social Commission for Western Asia (ESCWA) on a blueprint report titled “Towards an Integrated National Financing Strategy.” This report aligns with Egypt’s national development plans and its efforts to transition to an SDG-focused budget.
She concluded by emphasizing the importance of continuous dialogue between stakeholders. This dialogue is crucial for mobilizing resources, attracting private sector participation, and fostering partnerships in financing SDGs.
The Minister stressed the significance of evidence-based financing for realizing sustainable development. Effective institutions, sound policies, and continuous monitoring are all vital for achieving the SDGs.
