• "Al-Mashat" discusses strengthening partnerships with Spain to empower the private sector and implement the Carbon Border Adjustment Mechanism (CBAM) while reviewing preparations for the 4th International Conference on Financing for Development.
H.E. Dr. Rania A. Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, met with Álvaro Iranzo, Ambassador of the Kingdom of Spain to Egypt, in the presence of Eva Suárez, Director of the Spanish Cooperation Office, and Eduardo Soriano, Economic and Commercial Advisor at the Spanish Embassy in Cairo.
The meeting discussed enhancing cooperation between the two sides and opening new horizons for collaboration, in line with the ministry's efforts to promote sustainable economic growth and integrate both domestic and foreign financing to drive the country's developmental vision.
H.E. Dr. Al-Mashat welcomed the Spanish Ambassador, emphasizing the deep-rooted relations between the two countries, which span various areas of shared interest that support economic cooperation. H.E. also expressed solidarity with Spain following the recent floods in southeastern Spain.
The two sides discussed various aspects of cooperation to strengthen economic relations between the two countries and opportunities for expanding partnerships with Spain to stimulate cooperation between the public and private sectors and provide innovative financing solutions. In this context, H.E. Dr. Al-Mashat highlighted the "HAFIZ" platform, as a Hub for Advisory, Finance & Investment for Enterprises, available from development partners, that aims to raise awareness among the private sector and enhance its benefits.
They also explored future partnerships within the framework of the country platform for the "NWFE" program, particularly in the food sector, as well as Egypt's efforts to align with the European Carbon Border Adjustment Mechanism (CBAM) to enhance the competitiveness of Egyptian exports.
The discussion also covered future plans for the Spanish Agency for International Development Cooperation (AECID) in Egypt, including new grants, such as the agency's contribution to Egypt Network for Integrated Development (ENID) initiative, one of the national initiatives aimed at enhancing the developmental impact of UN contributions in Egypt, in collaboration with the UNDP.
H.E. Minister Al-Mashat also referenced her participation in the 79th session of the UN General Assembly (UNGA 79) and the Summit of the Future in New York, as well as her meeting with Spain's Minister of State for International Cooperation, as well as the Spanish Foreign Minister during his visit to Egypt last October. Discussions continue to focus on developing development and economic cooperation between the two countries.
The meeting also reviewed cooperation between Egypt and Spain in preparation for the 4th International Conference on Financing for Development (FfD4), to be held from June 30 to July 3, 2025, in Seville, Spain.
H.E. Dr. Al-Mashat emphasized the conference’s importance in accelerating global development efforts and strengthening the international financial infrastructure.
Additionally, the meeting covered a number of ongoing projects and proposed collaborations in development sectors such as infrastructure, food security, and the protection of archaeological sites.
The Spanish Ambassador confirmed his country’s commitment to strengthening cooperation with Egypt and exploring new areas for collaboration, as well as enhancing mutual cooperation and leveraging Spain’s expertise in several vital fields. He emphasized Spain’s interest in fostering communication channels with Egypt to shape both ongoing and future projects through relevant ministries and the Spanish Agency for International Development Cooperation (AECID), focusing on priority sectors such as water management and desalination, wastewater treatment, sustainable transport, railways, renewable energy, and women’s empowerment.
H.E. Minister Al-Mashat, and the Ambassador of the Kingdom of Spain to Egypt, signed two grants totaling 800,000 euros provided by the Spanish Agency for International Development Cooperation. These grants will support two projects: "Wastewater Treatment and Reuse in Egyptian Sugar Factories" and "Job Creation for Youth through Employment and Entrepreneurship - Phase II."
The first grant, valued at 500,000 euros, supports the "Wastewater Treatment and Reuse in Egyptian Sugar Factories" project, which aims to improve water quality by reducing pollution and ensuring the sustainability of water resources through the reuse of treated water. It also seeks to reduce the environmental impact of sugar factories in Egypt on the Nile River, addressing their negative effects on human health, agriculture, and fisheries.
The second grant, valued at 300,000 euros, supports the "Job Creation for Youth through Employment and Entrepreneurship - Phase Two" project, which benefits the Ministry of Youth and Sports. The project aims to contribute to inclusive, equitable, and sustainable economic growth by increasing income, job opportunities, and self-employment options for Egyptian youth, as well as promoting innovative entrepreneurship among young people as an integrated alternative for job creation and self-employment.
It is worth noting that the international cooperation and development finance relations between Egypt and Spain date back to the 1990s. In February 1998, the first cooperation protocol was signed, through which Spain provided Egypt with developmental financing worth 255 million euros. This was followed by a Memorandum of Understanding in 2008, with a value of 250 million euros. The cooperation portfolio between Egypt and Spain includes projects in several sectors, including transport, housing, sewage, electricity, renewable energy, small and medium-sized enterprise credit lines, as well as grants provided by the Spanish Agency for International Development Cooperation in areas such as health, women's empowerment, tourism, governance, and sustainable development.