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Egypt: Achieving Sustainable Development Goals Demands Innovative Financing Solutions

Egypt: Achieving Sustainable Development Goals Demands Innovative Financing Solutions

Tuesday, 26 October, 2021 - 11:15
A general view shows Tahrir Square following the coronavirus outbreak in Cairo, Egypt July 13, 2020. (Reuters)

Egypt’s Minister of International Cooperation Rania al-Mashat stressed the importance of speeding up efforts to stimulate the business environment in light of the extraordinary circumstances caused by the coronavirus pandemic.

The pandemic caused many economic and social challenges, the minister noted, urging world countries to unite through focused and coordinated measures to achieve the recovery of global investment.

She was speaking at a ministerial round table on “Investment for Sustainable Development” held during the United Nations Conference on Trade and Development’s (UNCTAD) 7th World Investment Forum.

Mashat said sustainable development could not be achieved without equitable policies for distributing COVID-19 vaccines, adding that no economy can fully recover unless every country has the necessary tools to confront the pandemic effectively and comprehensively.

The roundtable event was attended by Germany’s Federal Minister of Finance Peter Altmaier, South Africa’s Minister of Trade and Industry Ebrahim Patel, European Commissioner for Trade Valdis Dombrovskis, Indonesia's Minister of Trade Muhammad Lutfi, South Korea’s Minister of Trade, Industry and Energy Moon Sung-wook, as well as several other ministers and senior officials from across the world.

Mashat hailed the conference’s goal to enhance the efforts of developing countries to achieve economic growth and enable them to address potential obstacles to achieve economic integration.

The conference has provided analysis tools and technical assistance in addition to lessons on how to use trade, investment, finance and technology as tools to attain comprehensive and sustainable development.

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