CAIRO – Egypt has developed a modern infrastructure aimed at improving citizens’ quality of life and supporting sustainable development efforts, Minister of Planning, Economic Development, and International Cooperation Rania Al-Mashat said.
She made the remarks during a roundtable on global housing finance strategies as part of the 12th World Urban Forum.
Mashat highlighted the Egyptian government’s commitment to involving the private sector in developmental projects, considering it a key partner in nation-building.
She stressed the need for a cohesive effort between the public and private sectors to achieve national agendas and sustainable development.
Mashat emphasized the importance of urban project financing, noting Egypt’s collaboration with the World Bank to address funding challenges, especially in tackling climate change.
She underscored the need for investment in new urban cities to meet sustainable development goals, stating, “We are committed to fulfilling all local commitments to achieve global goals.”
The minister also reiterated the necessity of securing funding sources to create attractive urban communities.
She highlighted the importance of partnerships between national and international entities to achieve development goals, adding that Egypt’s success in meeting its national targets should align with its global responsibilities.
Mashat pointed out Egypt’s significant investment in urban development projects, such as the metro system and urban transportation, with ongoing encouragement for private sector involvement in construction. She stressed the need to bridge the global gap between construction ambitions and the required funding.
Additionally, she called for international legislation to ensure financing for the creation of sustainable urban cities, focusing on renewable resources to foster modern urban concepts. She noted Egypt’s comprehensive efforts to promote city sustainability, advance the green economy, and increase green projects within the economic and social development plan, reflecting the government’s commitment to supporting projects that drive sustainability and inclusive development.
Mashat reiterated that financing is essential for achieving objectives, strategies, and plans, as no project can materialize without the necessary funding to ensure its sustainability and effective implementation.
