2025-2026 New Strategy Paper For Egypt Excites Minister

(AFRICAN EXAMINER) – Egyptian Minister of International Cooperation, Dr. Rania Al-Mashat has expressed optimism and applauded her country’s New Strategy Paper for the 2022-2026 fiscal year.

The new strategy for the north African nation, builds on results and lessons from the preceding 2015-2021 strategy paper, which helped develop the country’s infrastructure and improve the business environment, fostering sustainable and inclusive growth.

Egypt also adopted an ambitious reform program in 2016 to restore macroeconomic balance. The country is committed to implementing structural reforms that will help improve the quality of life of its citizens.

The new strategy sets out two priority areas: strengthening Egypt’s competitiveness to support strong private sector-led growth and job creation. The second focuses on building resilience to achieve food and water security and energy efficiency.

Notably, the African Development Bank Group’s Board of Directors has approved the new strategy, and under the current dispensation, the Bank will be guided by the priorities of the country’s National Development Plan, also known as Egypt’s Vision 2030.

In addition, it will also support the Government Action Programme 2023-2027. The goal is to boost the country’s efforts to build a competitive and resilient economy. The Bank’s support will target industry, transport, water and energy sectors.

The minister said the new Country Strategy Paper resulted from extensive consultations with stakeholders and relevant entities.

“Our new strategy with the Bank centers around enhancing private sector engagement to increase job opportunities and supporting inclusive and sustainable growth through food and water security and energy efficiency; all consistent with our national priorities”, she said.

She added that with a total portfolio of over $6.74 billion, including $1.1 billion dedicated to the private sector, the Bank has been one of Egypt’s key partners since 1974.

“Our long-standing partnership is reflected in a diverse portfolio, covering the development of different priority sectors”, she further explained.
Like many other countries, Egypt has been impacted by the Covid-19 pandemic and the war in Ukraine.

African Development Bank Director General for North Africa, Mohamed El Azizi noted that the Egyptian economy showed resilience due to a timely and prudent policy response to the Covid-19 crisis, thanks to the government and the central bank’s interventions.

“We also commend the Egyptian authorities for the rapid measures taken to mitigate the economic effects of the Russia-Ukraine conflict. We’d continue supporting Egypt to embark on a more resilient and sustainable development path” he reassured.

Meanwhile, the Bank is also supporting the country’s efforts to address climate change, an issue of global concern ahead of the 2022 UN Climate Change Conference (COP27), which Egypt is set to host in November this year.

The Bank is backing environmental and social initiatives to enhance climate adaptation and mitigation, and to support the private sector to play a greater role in creating green jobs and developing renewable opportunities.

Under its Climate Change and Green Growth strategic framework, which was launched during COP26 in Glasgow, the Bank also seeks to bolster Egypt’s access to global climate and environment-related funds.