- Minister of International Cooperation: "country ownership" is the cornerstone that shapes the state’s relationships with international institutions and development partners.

- Minister of International Cooperation: “ The size of the developmental financing obtained by Egypt over the past 4 years exceeded $38 billion, with around $10 billion directed to the private sector.”

- Chairman of General Authority for Investment and Free Zones (GAFI): The state is working on reforming the economic and investment system and creating an investment-friendly climate.

- Vice President & Chief Risk Officer, New Development Bank: Egypt's location makes it a hub for energy, electricity, and data movement around the world.

- Chairman of the Financial Regulatory Authority: Enhancing sustainable financing is one of the pillars of the authority's vision as a fundamental cornerstone for achieving sustainable development.

Under the theme of Egypt's Blueprint for Pathways Towards Growth and Investment, the first panel of the "The New Development Bank seminar in Egypt: Navigating New Horizons," discussed Egypt's development plans, the country’s efforts to transition into a regional energy center, and its distinctive developmental potentials.

Participants in the panel included Dr. Rania Al-Mashat, Minister of International Cooperation; Dr. Mohamed Maait, Minister of Finance; Mr. Anil Kishora, Vice President & Chief Risk Officer, New Development Bank; Dr. Hossam Heiba, Chairman of General Authority for Investment and Free Zones (GAFI); Dr. Mohammed Farid, Chairman of the Financial Regulatory Authority (FRA); Ms. Pakinam Kafafi, CEO of TAQA Arabia. The panel was moderated by Mr. Akef Maghraby, CEO & Managing Director of Suez Canal Bank.

In her speech, Dr. Rania Al-Mashat, Minister of International Cooperation, stated that cooperation between Egypt and its partners depends on the cornerstone of country ownership. She emphasized that any project focusing on cooperation between multilateral and bilateral development partners requires transparency standards regarding projects, their outcomes, and participants.

H.E. stressed that the current challenge is insufficient current funding, pointing out that to ensure efficient funding, a platform must be created to bring together all relevant partners, especially various institutions between bilateral and multilateral partners. 

Dr. Al-Mashat explained that understanding the current initiatives launched by the New Development Bank and transforming them into a strategy ensures obtaining financing, technical support, guarantees, and more. 

She highlighted that the Ministry of International Cooperation publishes an annual detailed report on its implementation annually, aligning with the Sustainable Development Goals, Egypt's plans, and the 2030 strategy, confirming that the size of the developmental financing obtained by Egypt over the past four years exceeded $38 billion, with around $10 billion directed to the private sector.

The Minister emphasized Egypt's strong cooperation with the world and various development partners, particularly in renewable energy, water, infrastructure, and capacity building, noting that it is necessary to create an agenda to bridge the financing gap in line with the orientations of international financial institutions and sustainable development goals.

Dr. Al-Mashat pointed out that Egypt was one of the first countries to launch integrated platforms for energy, climate, and water projects, which serve as a comprehensive platform for presenting projects in various fields and achieving interconnection between the government, financing institutions, development partners, and the private sector simultaneously. She emphasized that this platform serves as a model that can be applied in many other countries.

For his part, Dr. Mohammed Farid, Chairman of the Financial Regulatory Authority (FRA), stated that sustainable financing is viewed comprehensively as one of the key elements for achieving sustainable development goals.  He affirmed that providing a conducive local environment and enhancing strategic partnerships with international development institutions are fundamental axes for facilitating access to and obtaining easy financing that serves sustainable development goals for a better life for all.

He continued that the FRA operates in three integrated work tracks to support efforts to provide sustainable financing that takes environmental dimensions into account, which are: developing the first voluntary African market for trading carbon emission reduction certificates, developing data availability and analysis processes for informed decision-making by regulatory and supervisory bodies to assist various institutions in achieving sustainable development goals, and developing and providing innovative financing solutions that consider environmental considerations, such as amendments made to the executive regulations of the Capital Market Law by providing various types of bonds to finance different projects.

Dr. Farid detailed that the executive and regulatory framework for trading carbon emission reduction certificates has been completed, and they invite the private sector to engage more to explore opportunities to benefit from the new market in line with global standards and requirements for reducing carbon emissions. 

He affirmed that the new market serves as an incentive for companies because it provides a mechanism to compensate part of the cost of a carbon emission reduction project, which aligns with the government's vision of achieving sustainable development and transitioning to a lower-carbon economy.

Regarding the second track, Head of the FRA affirmed that aggregating and building a database and analyzing it is a fundamental issue in working towards formulating policies, solutions, and making decisions to enhance companies' involvement in activities that consider environmental considerations and sustainable development goals, specifically disclosing various efforts and their results for measurement, evaluation, and more efficient management.

Farid emphasized that the third track is developing and providing innovative financing solutions which encourages companies and various institutions to engage more in projects that consider all environmental and social dimensions, pointing out that in this regard, the amendments made to the executive regulations of the Capital Market Law and the introduction of blue and green bonds and other types as financing tools used by companies to finance their expansions according to goals that consider environmental and social considerations and sustainable development goals.

Mr. Akef El Maghraby, CEO and Managing Director of the Suez Canal Bank, affirmed that Egypt has undertaken many reforms and measures that have achieved economic stability and contributed to creating an attractive investment climate. Implementing strong infrastructure projects reinforced this economic stability, he said, noting that Egypt has focused on the growth of the private sector parallel to implementing its projects and investment plans.

He added that there have been many investments injected into implementing infrastructure projects, which the state has executed alone or in collaboration with the private sector, leading to increased growth rates in the Egyptian economy and contributing to the growth of some sectors, notably construction and building.

Furthermore, Mr. Hossam Heiba, Chairman of General Authority for Investment and Free Zones (GAFI) stated that the state has been working for a long time on reforming the economic and investment system, creating an investment climate to attract more investments to the Egyptian economy. 

He referred to the efforts of the General Authority for Investment and Free Zones which focus on reducing the time required for investors to enter the Egyptian market by reducing procedures, relying on technology and digitization, and providing attractive incentives to investors.

Heiba emphasized that facilitating foreign investment goes hand in hand with creating an investment climate and stimulating local investors. “Without local investors, there will be no foreign investors,” he stated.

He added that there are specific sectors that the state aims to develop to support local growth rates, including industry, green energy, technology, communications, agriculture, logistics, and healthcare, which are the four main sectors currently receiving support.

Heiba affirmed that there is a working strategy aimed at attracting foreign companies to operate in Egypt and cooperating with development partners in the North and South. The state works at all levels and in all fields in cooperation with the business community, including the public and private sectors and joint chambers of commerce between Egypt and other countries.

Mr. Anil Kishora, Vice President & Chief Risk Officer, New Development Bank, stated that the bank is committed to supporting its members to achieve the best level, including Egypt, which recently joined the bank, pointing out that Egypt possesses several attributes that place it among countries capable of achieving better growth rates.

Kishora emphasized that Egypt has a strategic location, allowing it to become a hub for energy, electricity, and data movement around the world. It also possesses distinctive human capabilities that enable it to develop advanced solutions to its challenges and develop its economy.

He confirmed the bank's willingness to support Egypt in implementing its plans and providing funding to implement projects that would contribute to achieving sustainable development goals, indicating that the bank has already provided Egypt with financing for several projects that serve various sectors. 

He pointed out that the bank's support for Egypt comes within the framework of implementing the strategy of enhancing cooperation with all its members to achieve sustainable development goals.

Kishora explained that the bank pays special attention to financing projects related to renewable energy, transport, and digital transformation, as well as financing projects that contribute to improving the living conditions of citizens and developing the health and education sectors, pointing out that the bank aims to achieve a qualitative leap in supporting its members in various fields.

Ms. Pakinam Kafafi, CEO of TAQA Arabia, stated that the company has implemented many projects in Egypt, especially in the field of renewable energy, stressing that the company aims to contribute to achieving sustainable development goals by providing renewable energy solutions that contribute to reducing carbon emissions and preserving the environment.

She emphasized the company's interest in continuing to implement projects in Egypt and expanding its investments in various sectors, especially renewable energy, which represents the future of energy in light of the global trend towards increasing reliance on renewable energy sources. 

She pointed out that her company is studying several projects to establish new renewable energy plants, including wind and solar energy, in various governorates, stressing its commitment to implementing the highest international standards in all its projects.

In conclusion, the speakers agreed that achieving sustainable development goals requires concerted efforts by all parties, including governments, international development institutions, the private sector, and civil society, to mobilize the necessary resources and implement projects that contribute to achieving these goals and improving the living conditions of citizens. 

They emphasized the importance of enhancing cooperation and coordination between all parties to address common challenges and achieve common goals.