Dr. Rania Al-Mashat, Egypt’s Minister of Planning and Economic Development and Governor of Egypt at the European Bank for Reconstruction and Development (EBRD), participated in an event hosted by the EBRD titled “Investing in Equality: From Bold Ideas to Measurable Outcomes,” which was inaugurated by Odile Renaud-Basso, President of the EBRD. The event celebrated International Women’s Day and highlighted the importance of gender equality in driving economic growth and social justice.
Gender Equality: A Key Driver of Economic Prosperity
During her speech, Dr. Al-Mashat emphasized that gender equality is not just an aspiration but a fundamental requirement for strong economies and just societies. She referenced the World Bank’s 2024–2030 Gender Equality Strategy, which suggests that closing gender employment gaps could lead to a global increase of approximately 20% in per capita GDP over the long term. “When women are given equal opportunities, entire communities benefit,” she said, underscoring the broader societal impact of gender parity.
Egypt’s Commitment to Measurable Progress
The Minister also highlighted Egypt’s commitment to turning its focus on gender equality into tangible, measurable progress. She pointed out that adopting an evidence-based approach to policymaking is a cornerstone of this commitment. “This event’s emphasis on measuring impact aligns perfectly with our strategic goals,” she said. Dr. Al-Mashat stressed the importance of setting clear standards to track progress, staying flexible in the face of challenges, and ensuring that gender equality remains at the forefront of Egypt’s development agenda.
Gender-Responsive Budgeting and Targeted Investments
Dr. Al-Mashat noted that the Ministry of Planning and Economic Development, in collaboration with national partners, has prioritized gender-responsive budgeting. Since the 2020/2021 fiscal year, investments in education for women, healthcare, social solidarity, and employment have significantly increased, reaching nearly 300 billion Egyptian pounds over the past five years. Additionally, the ministry is coordinating 89 gender-focused projects with Egypt’s bilateral and multilateral partners.
Strategic Partnership with the EBRD
The Minister also underscored the importance of Egypt’s strategic partnership with the EBRD, which plays a vital role in facilitating women’s access to essential financial resources. The EBRD’s “Women in Business” program, in collaboration with the private sector, is central to this effort. “Removing financial barriers and empowering women-led small and medium enterprises is crucial to driving economic growth and advancing women’s economic independence,” Dr. Al-Mashat explained.
Addressing the Intersection of Gender and Climate Change
Another milestone in Egypt’s partnership with the EBRD is the Gender Equality in Climate Action (GECA) accelerator. Dr. Al-Mashat emphasized that the project addresses the intersection of gender and climate change, ensuring that women play an indispensable role in the transition to a sustainable future. “By tackling both gender equality and climate change, we create more effective and equitable solutions that benefit both the environment and social equality,” she added.
A Vision for Transformational Partnerships
Concluding her speech, Dr. Al-Mashat reaffirmed that the success of investing in gender equality and turning bold ideas into measurable results depends on creating transformational partnerships. “These partnerships bring together vision, expertise, resources, and knowledge-sharing to ensure that innovation drives real and lasting impact,” she said. The Minister highlighted the need for flexibility and adaptability to overcome challenges, seize opportunities, and maintain progress over time.
