Egypt’s Minister of Planning, Dr. Rania Al-Mashat, underscored the crucial role of women in driving global economic change during a high-level panel session titled “Transforming Financial Systems to Empower Women Entrepreneurs to Change the World.”
The event was part of the European Bank for Reconstruction and Development (EBRD)’s 34th Annual Meeting and Business Forum, held in the United Kingdom from May 13 to 15 under the theme “Expanding Horizons: Stronger, Sustainable Future.”
Empowering Women for Inclusive Growth
Speaking alongside EBRD President Odile Renaud-Basso, Barbara Rambousek, EBRD Director for Gender and Economic Inclusion, and Irina Radovic, Central Bank Governor of Montenegro, Dr. Al-Mashat emphasized the macroeconomic significance of women’s participation in economic life.
“Closing the gender gap in Egypt’s labor market could boost the country’s GDP by up to 34%,” Al-Mashat said. “Investing in women — through financial inclusion, startup support, or capacity building — is not just a moral imperative; it’s a catalyst for national prosperity.”
Access to Information is Key
Dr. Al-Mashat highlighted Egypt’s recent efforts to support women entrepreneurs through initiatives like the “Hafiz” platform, launched by the Ministry of Planning. The platform offers technical assistance to women-led businesses, including feasibility study support and information on available grants, helping to reduce financing risks and foster startup growth.
Entrepreneurship and Innovation: The Path to Escaping the Middle-Income Trap
She further pointed to the vital role of small and medium enterprises (SMEs) and startups in accelerating economic transformation. Citing a World Bank study on the “middle-income trap,” Al-Mashat stressed that innovation and entrepreneurship are the only viable paths for middle-income countries to achieve high-income status.
“SMEs are engines of job creation, innovation, and inclusive development. Governments must support them through enabling policy environments and targeted investments,” she said.
Green Investments and Gender Equality
On the intersection of climate and gender, Al-Mashat noted that women are disproportionately affected by climate change — but also among the most innovative in devising solutions. She highlighted the rise of green investments across EBRD countries and Africa and called for gender-responsive climate finance and training programs.
“When we talk about climate change, we must recognize that women are not just vulnerable — they are visionaries. Many of the most effective climate solutions have been driven by female entrepreneurs,” she said.
The forum brought together world leaders, and policymakers discuss the future of inclusive and sustainable development.
