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  • Wednesday, 29 May 2024

During the Annual Meetings of the African Development Bank in Kenya, Dr. Rania Al-Mashat, Minister of International Cooperation and Alternate Governor for Egypt at the African Development Bank, Holds Intensive Meetings with the Bank's President and Representatives of Governments, International and Arab Institutions

▪ "Al-Mashat" discusses mutual cooperation with the British side in implementing the Development Policy Financing program and relations with the UK Export Finance Agency (UKEF).

 ▪ Discussions with the African Legal Support Facility (ALSF) to strengthen technical support in the field of public-private partnership, capacity building, and implementation of the "NWFE" program.

 ▪ Al-Mashat appreciates the partnership between the African Legal Support Facility (ALSF) and the Egyptian Sovereign Fund to provide technical and institutional advice on the Green Hydrogen program.

 Dr. Rania Al-Mashat, Minister of International Cooperation and Alternate Governor for Egypt at the African Development Bank, held intensive and diverse bilateral meetings during the African Development Bank's Annual Meetings in the Kenyan capital, "Nairobi," which are held under the theme "Transforming Africa, the African Development Bank Group and Reforming the Global Financial System."

During the meetings, the Minister of International Cooperation met with Mr. Akinwumi A. Adesina, President of the African Development Bank Group, Mr. Sultan Abdulrahman Al-Marshad, CEO of the Saudi Fund for Development, Mr. WalEEd AlBahar, Acting Director General of the Kuwait Fund for Arab Economic Development, Ms. MalinNE Bloomberg, Deputy Director General of the African Development Bank for North Africa, Ms. Nadia Fettah, Moroccan Minister of Economy and Finance, and Mr. Al-Amine Osman, Minister of Economy, Planning, and Regional Development in Cameroon.

This comes within the framework of the role played by the Ministry of International Cooperation in developing and strengthening economic cooperation relations with multilateral and bilateral development partners, enhancing the national development vision, and aligning development cooperation relations with the strategies and priorities that the state is working to implement.

British Development Minister

• The Minister of International Cooperation also held a meeting with Mr. Andrew Mitchell, the UK Minister of State for Development. During the meeting, the Minister expressed her appreciation to the UK Minister for the joint cooperation and efforts made during the past period, as well as for the coordination within the framework of the ongoing program being implemented with the World Bank Group to finance development policies, in support of the economic and structural reform efforts that Egypt is working on implementing.

The Minister of International Cooperation emphasized the completeness of the efforts of development partners represented by the European Union, the World Bank Group, and the United Kingdom, through their support for the government's economic and structural reforms that enhance the private sector's participation as a key player in development efforts, to become the largest contributor to achieving development and support the state's vision to achieve inclusive and sustainable growth.

The meeting addressed the exploration of future cooperation with the British side in the field of agriculture and food security, in addition to the ongoing coordination to contribute to the implementation of the energy axis within the national platform for the "NWFE" program, and to enhance Egypt's energy security and climate action efforts; through a British grant of $7 million.

The Minister of International Cooperation also discussed with the British Minister joint cooperation through the UK Export Finance Agency in the field of water, as well as efforts to train government cadres in climate action.

Egyptian-British relations are characterized by their diversity in many fields, and there are many British companies investing in Egypt. In 2020, the Ministry of International Cooperation and the UK Department for International Development issued a joint statement to strengthen economic cooperation between the two countries within the framework of the activities of the British-African Investment Summit.

In another meeting, the Minister of International Cooperation met with Mr. Olivier Pognon, CEO and Director of the African Legal Support Facility (ALSF). The two sides explored opportunities for joint cooperation in light of the Facility's role in providing legal and technical support to African governments in negotiating trade deals and resolving legal disputes. This includes ongoing advisory services and capacity building, particularly in the energy sector.

The Minister of International Cooperation praised the partnership between the African Legal Support Facility (ALSF) and the Egyptian Sovereign Fund, through which the Facility provides the necessary advisory services to review the legal, institutional, and regulatory framework of the green hydrogen program in Egypt.

During the meeting, the Minister of International Cooperation reviewed the efforts and measures being taken by the state to expand green hydrogen production through the launch of a National Green Hydrogen Council chaired by the Prime Minister, as well as the launch of several projects that enhance Egypt's leadership in this vital field. The Minister emphasized the importance of the green hydrogen industry for Egypt to strengthen its position as a regional hub for renewable energy. Her Excellency also highlighted the ongoing cooperation with the European Union to enhance the technical support available in the field of green hydrogen in Egypt.

In this context, the Minister of International Cooperation reviewed the details of the national platform for the "NWFE" program, and the ongoing efforts with development partners to implement the projects included in the program in the sectors of water, food, energy, and sustainable transport, in cooperation with the private sector. Her Excellency also highlighted the importance of strengthening technical cooperation with the African Legal Support Facility (ALSF) in this field.

The two sides discussed enhancing joint cooperation in the field of encouraging public-private partnerships, as well as capacity-building programs and providing grants for development projects.

The Facility was established in 2008 as an international organization hosted by the African Development Bank. Its mission is to assist African governments with legal and technical support in negotiating complex commercial transactions, litigation, capacity building, public-private partnerships, energy and minerals and natural resources, and sovereign financing.