Egypt to launch book documenting its pioneering experience in int’l cooperation, developmental financing

Doaa A.Moneim , Wednesday 23 Jun 2021

The book titled 'Stakeholder Engagement Through Economic Diplomacy' will be launched on Tuesday by the London School of Economics

Stakeholder Engagement Through Economic Diplomacy
“Stakeholder Engagement Through Economic Diplomacy” the book written by Minister of International Cooperation Rania Al-Mashat.

Minister of International Cooperation Rania Al-Mashat will launch a book that documents Egypt’s pioneering experience in the field of international cooperation and developmental financing based on the country’s economic diplomacy principals, the minister announced in a statement on Wednesday.

The book titled ‘Stakeholder Engagement Through Economic Diplomacy’ will be launched on Tuesday by the London School of Economics (LSE).

The book is drafted by Al-Mashat and Assistant Minister of International Cooperation for Planning and Monitoring Randa Hamza and will be launched through a virtual event.

The launch event will be held in the presence of LSE Director Minouche Shafik, Vice President and Chief Economist of the World Bank Group and Professor at Harvard University Carmen Reinhart; Chief Economist at the Asian Infrastructure Investment Bank Eric Berglöf, along with representatives from the United Nations, the Organisation for Economic Co-operation and Development (OECD), and from many other international financial institutions.

The book highlights the ministry’s establishment of an institutional framework for Economic Diplomacy for the Arab Republic of Egypt, which aims to consolidate Egypt's economic relations with multilateral and bilateral development partners to enhance international cooperation and development financing.

It also promotes Egypt’s successful development endeavors and serves as a manual for developing and emerging countries to transfer knowledge and experience, presenting modern international methodologies in the field of international cooperation and sustainable development, elucidating how the Ministry of International Cooperation has been actively implementing these methodologies in Egypt.

The ministry seeks to utilise modern tools in order to foster impactful international partnerships with multilateral and bilateral development partners, and to accelerate the implementation of Egypt’s 2030 Vision and the 17 UN sustainable development goals (SDGs), according to Al-Mashat.

On Tuesday, Al-Mashat presented to Egypt’s President Abdel Fattah El-Sisi the efforts invested in curating the content of the book in order to document Egypt’s pioneering experience in international cooperation and development finance, crafting a model for other emerging and developing countries.

She said that Egypt is pioneering in the implementation of global sustainability targets, mitigating the socioeconomic challenges in the last few years.

Pushing towards the SDGs, the minister launched the full map for the allocation of Official Development Assistance (ODA) to the SDGs.

The map showcases the Ministry of International Cooperation’s portfolio of projects, with a detailed allocation of the $25 billion development financing across the 377 projects.

The ODA-SDG Mapping identifies the projects implemented within the framework of each sustainability goal, as well as the development partner that finances the project, the sector in focus, and the beneficiaries from the public and private sectors.

Additionally, the map keeps track of the impact and efficiency of the multilateral and bilateral partnerships and how they push towards the achievement of the national and global development agendas.

The Ministry of International Cooperation works in accordance with Presidential Decree No. 303 of 2004 to develop and strengthen economic cooperation relations between the Arab Republic of Egypt, other countries, and international and regional organisations. The decree proposes standards and regulations for external borrowing and foreign grants, as well as for monitoring local borrowing entities, and for the reimbursement and follow-up on beneficiaries.

It further coordinates the economic relations of Egypt with economic cooperation institutions, international financial institutions, and specialised agencies of the United Nations.

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