During the meeting, Al-Mashat highlighted the strategic economic relations between Egypt and the USA, and the continued cooperation within the framework of unlocking new horizons for development cooperation and private sector engagement. The Minister added that the development cooperation portfolio with the USA is varied, covering many priority sectors, promoting comprehensive and sustainable economic growth in support of the country’s 2030 Vision.

Al-Mashat also referred to last year’s 7 signed grant agreements with the United States Agency for International Development (USAID) worth $125 million to stimulate the country’s development efforts in basic education, higher education, science and technology, agriculture, health, economic governance, trade and investment, in addition to $5 million allocated for combating the repercussions of the COVID-19 pandemic. The Minister noted that the partnership with the USAID is reflected in stimulating the participation of the private sector in development, and in its increasing role in various projects that support Small and Medium Enterprises (SMEs), entrepreneurship, and promoting business. Moreover, Al-Mashat discussed cooperation in the framework of promoting climate action, and in showcasing Egypt’s efforts in mitigation and adaptation projects to the US private sector, noting a commitment to the transition towards a green economy. They also discussed Egypt’s preparations in hosting the COP27, pointing to the need for a framework that enhances the participation of the private sector in green projects, especially in developing and emerging countries in the African continent, in order to meet the financing needs. Al-Mashat also presented the Ministry’s 2021 Annual Report “Engaging For Impact Towards Our Common Future” which details efforts and joint cooperation with multilateral and bilateral partners through development financing and technical support, including development cooperation with the US and the USAID, as well as a chapter on climate action through mitigation and adaptation projects. For his part, Steve Lutes, the Vice President of Middle East Affairs at the U.S. Chamber of Commerce, referred to the close cooperation between the USA and Egypt. He emphasized the USA’s interest in supporting climate action in terms of new and renewable energy, and the green transformation, pointing out that the U.S. Chamber of Commerce is seeking to organize two visits for US companies in the current year, within the framework of engaging with the private sector, to study development opportunities in Egypt, and to take a closer look at the achievements. Lutes also applauded the efforts of the Egypt - International Cooperation Forum (Egypt -ICF), organized by the Ministry of International Cooperation last year, explaining that it was a pioneering experience in bringing together development partners and stakeholders from all sides, at the level of governments and private sector. He also commended the Ministry’s interactive website that presents development efforts in a clear and detailed manner, and the results of the Multi-Stakeholder Platforms that took place over the last period. The partnership between Egypt and the USAID dates back to 1978, and the total development cooperation portfolio amounts to more than $30 billion in various priority sectors, including health and population, education, and employment. The cooperation portfolio since 2014 has reached more than $900 million in projects including basic education, higher education, governance, SMEs, tourism, agriculture, and private sector support. The year 2021 witnessed the start of negotiations with the USAID on the joint cooperation portfolio, on progress in the ongoing projects across sectors, and on the 2021 - 2025 development cooperation strategy between both countries.