Minister of International Cooperation Rania Al Mashat delivered the closing speech of the 2023 edition of the EIB MED Conference, which is jointly organized by the Spanish Presidency of the European Union and the Union for the Mediterranean and held under the theme “Connectivity in the Mediterranean: Together for a Better Future”.
The conference witnessed the participation of Gelsomina Vigliotti, Vice President of the European Investment Bank (EIB); Hassan Abdallah, Governor of the Central Bank of Egypt; Ambassador Nasser Kamel, Secretary General of the Union for the Mediterranean; and other government representatives, leaders of the EIB, the private sector, international financing institutions, and relevant stakeholders.
In her speech, Mashat affirmed that the infrastructure sector in Egypt has seen significant growth over the past years, mainly driven by strong political will, the country’s efforts to enhance effective partnerships between the government and private sectors, and the expansion of fourth-generation cities and green buildings to increase energy efficiency and advanced infrastructure.
That includes establishing the New Administrative Capital (NAC) and developing new airports, ports, and transport networks.
The diplomat also explained that the Ministry of International Cooperation is working to enhance Egypt’s development priorities according to the ongoing plans, and in this regard, the development cooperation portfolio includes over 36 projects to achieve SDG 9: Industry, Innovation, and Infrastructure, with a value of $5.7 billion, representing approximately 22% of the total portfolio, 30 projects under SDG 11: Sustainable Cities and Communities with a value of $1.5 billion, and 34 projects for SDG 7: Affordable and Clean Energy with a value of $5.9 billion.
Furthermore, the Minister underlined the efforts made by the Government of Egypt to develop 14 smart cities and develop urban communities in a way that enhances investment opportunities for the private sector to participate in the development of infrastructure, noting that President Abdel Fattah El-Sisi launched the digital transformation initiative to enhance the efficiency of the government sector and improving services provided electronically to citizens.
