The global community applauded Egypt’s documentation of its national experience in the field of international cooperation and development financing through "Stakeholder Engagement Through Economic Diplomacy.”
Dr. Rania Al-Mashat, Minister of International Cooperation, and the London School of Economics launched the book at a global event attended by international eminent economic figures and institutions, namely Carmen Reinhart, Vice President and Chief Economist of the World Bank Group and Professor at Harvard University; Minouche Shafik, Director of the London School of Economics; Erik Berglöf, Chief Economist of the Asian Infrastructure Investment Bank; in addition to representatives of the United Nations Development Program (UNDP), the Organization for Economic Cooperation and Development (OECD) and many other International Financial Institutions (IFIs).
The book is the first of its kind to document Egypt's experience in international cooperation and development financing, as well as launching an institutional framework for economic diplomacy resting on three pillars aimed at pushing international cooperation mechanisms to achieve Sustainable Development Goals (SDGs). The book further presents the different methodologies implemented to map the projects funded by development partners to the SGDs.
Carmen Reinhart, Vice President and Chief Economist of the World Bank, stated: “I would like to emphasize the timeliness of the efforts undertaken by the Ministry of International Cooperation to involve stakeholders in the development process, and to direct development cooperation to serve the priorities of the country; I hope that this experience will turn into a template for other countries to follow”.
Reinhart added that Egypt’s experience is a great step towards achieving greater transparency, a point of discussion needed to be reiterated worldwide during global political and economic conferences.
On her part, Minouche Shafik, Director of the London School of Economics, said that what Dr. Rania Al-Mashat, Minister of International Cooperation, put forth about Egypt's experience in development finance and the launch of the Multistakeholder Platforms (MSPs), is of utter importance with regards to consolidating partnerships between stakeholders and putting people at the core to achieve the SDGs.
Shafik added that the book presents the ODA- SDG mapping that fosters the principles of governance and transparency, underscores the efficiency and effectiveness of resources in attaining SDGs, and informs future partnerships of the existing gaps to develop an informed decision-making process.
Erik Berglöf, Chief Economist of the Asian Infrastructure Investment Bank, and moderator of the discussion on the book said that it showcases Egypt’s leading role in achieving development and directing international cooperation and development financing to meet national priorities.
Berglöf described the book as a catalyst for synergies and joint cooperation to implement development plans efficiently that engage stakeholders from the public and private sectors and civil society.
He expressed the development community’s need for such publication, stating: "There is no doubt that the Egyptian model in development cooperation proposes an effective and influential blueprint to be followed by many, and we are very grateful for the opportunities provided by the Minister of International Cooperation, Al-Mashat, to open up prospects for dialogue on the future of international cooperation."
Achim Steiner, Director of the United Nations Development Program (UNDP), commended on the launch of the book, calling it an “eye-opening publication” that comes during critical times, where only one decade separates us from achieving the SDGs, while countries seek to recover following the repercussions of the Covid-19 pandemic.
He further elaborated that the Egyptian experience of multilateralism is one worth documentation and discussion and that “the pertinent publication will prompt a much-needed discussion on how we can leverage international cooperation.”
Munir Akram, President of the United Nations Economic and Social Council (ECOSOC), said that the ODA-SDG mapping is a crucial step towards realizing SDGs, explaining that Egypt is one of the first countries to implement this framework. The book "Stakeholder Engagement Through Economic Diplomacy", launched by Al-Mashat, contributes to the successful transition to the new global and balanced economic system.
It is worth noting that earlier in June, Al-Mashat, Minister of International Cooperation, presented to H.E. the President of Egypt 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 financing, crafting a model for other emerging and developing countries.
Egypt is one of the few countries that were able to stay the course in the implementation of the sustainability targets, mitigating the socioeconomic challenges in the last few years.