Launch of Egypt’s Integrated National Financing Strategy 18 March 2025

Your Excellency Dr. Mostafa Madbouly, Prime Minister of Egypt,

Your Excellency Dr. Rania Mashat, Minister of Planning, Economic Development and International Cooperation,

Your Excellency Dr. Ahmed Kouchouk, Minister of Finance, 

Your Excellency Dr. Ahmed Abdel Rahman El Sheikh, Chairman of the Egyptian Stock Exchange,

Your Excellency, Ms. Ghada Nour, Assistant Minister of Investment and Foreign Trade, 

Excellencies Ambassadors, Representatives of the Government and Private Sector, Development Partners, and UN colleagues,

It is a true honor to join you at the launch of Egypt’s Integrated National Financing Strategy, an essential tool and roadmap for financing the SDGs.

I would like to first and foremost commend the Government of Egypt for its unwavering commitment to sustainable development. In an increasingly fragmented and uncertain world, the need for sustainable development has never been more urgent.

We deeply appreciate the presence of the Prime Minister today, as it reaffirms the whole-of-government commitment and national ownership of Egypt’s National Financing Strategy.  

And let me emphasize that the launch of the Strategy would not have been possible without the leadership of the Minister of Planning, Economic Development and International Cooperation, whose dedication to sustainable development has been exemplary throughout the years. 

Ladies and gentlemen,

I will start my remarks by a quote of our UN Secretary-General, which summarizes the essence of our gathering today: “Financing for development is a transformative resource that can reduce poverty and provide billions of people with the opportunity of a better future.” 

For the United Nations, finance is not a mere technical tool; it is the enabler of human progress. It is the force that determines whether a child receives an education, whether a community has access to healthcare, and whether societies can withstand shocks and build resilience.

The launch of Egypt’s Integrated National Financing Strategy is, therefore, just as much a policy milestone, as it is a strategic shift. 

A shift from fragmented, short-term financial approaches to an integrated, forward-looking model that aligns financial flows with Egypt’s national development priorities. A shift that will contribute to fuel Egypt’s own sustainable development, and help strengthening Egypt’s leadership in shaping the financing for development at global level. 

Why do we need INFFs? Globally the SDG financing gap is estimated at $4 trillion. It might seem overwhelming, but it is a mere drop in the bucket – less than 1 % - in a world where the total financial assets stand at over $450 trillion. We need a holistic strategy to ensure that these assets get invested in national priorities to deliver on SDGs. And INFFs are the essential building blocks for strategic re-routing of global financial assets. 

As UN Resident Coordinator, I have mobilized the UN system to partner with the Government on the development of Egypt’s Integrated National Financing Strategy. With UNDP as lead technical agency, we brought together the collective expertise of UNCTAD, UN Women, ILO, and UNICEF, thanks to catalytic funding from the Global Joint SDG Fund.

Dear partners,

The INFF strategy points to Health; Education; Women’s empowerment; Sanitation; Transport; Climate Change financing, as priority areas in which investments should be increased to pursue the achievement of strategic national priorities and accelerate the SDGs by 2030.

To this end, it will be crucial to enhance domestic resource mobilisation and private sector engagement.

1. With respect to enhancing domestic finance, it is important that the national budget is supported by fair and effective taxation that mobilizes domestic resources for long-term development. A crucial aspect of this effort is the tax reform, which will enhance revenue generation while fostering economic stability. In this respect, I applaud the recently reported tax revenue increase (by 38%), and also Egypt’s global leadership as Chair of the UN Global Tax Treaty intergovernmental negotiations.

    

2. With respect to enhancing private sector engagement, it is essential to create a robust investment climate that attracts sustainable industries and unlocks the potential of blended finance and public-private partnerships, de-risk investments and expand the role of insurance finance, ensuring that financial flow remains stable and responsive to market dynamics. These measures will provide businesses with the confidence needed to contribute actively to Egypt’s development agenda incl. towards the agreed priority areas with potential to accelerate the SDGs.

Mobilizing private capital is increasingly critical in the context of shrinking and unpredictable flows in international development commitments.

3. Aligning international support with national needs remains a fundamental pillar of the INFF. By leveraging debt swaps, risk insurance, and innovative financial instruments, Egypt can direct international financing toward strategic national priorities, maximizing development impact. Strengthening the ecosystem for SDG Bonds and blended finance will be instrumental in securing long-term sustainable investments.

    

4. Finally, embedding climate resilience, gender-responsive budgeting, and social equity into financial planning is not just an aspiration, it is a necessity for inclusive and sustainable growth. 

As Egypt works toward these goals, the UN, under my coordination, will continue to work together to advance the implementation phase of the INFF, ensuring strategic alignment, policy coherence, and tangible impact. 

Moving forward, and in line with the intended Outcome document of the upcoming 4rth Conference on Financing for Development in Sevilla this June, we must put in place an inclusive country-led national coordination platform to support the implementation of the INFF.

Led by the Planning Ministry, this platform should include all relevant actors – Multilateral Development Banks and other development finance institutions, the United Nations system, bilateral partners, private sector actors, and civil society when appropriate.

We should involve the Central Bank and other relevant domestic actors to leverage local knowledge and align with country-led development priorities.

We should aim at ensuring an efficient and effective division of labour, according to each partner’s comparative advantage and knowledge. 

In conclusion, let me once again extend my appreciation of the Ministry of Planning Economic Development and International Cooperation leadership and gratitude to the many ministries, development partners, IFIs, and UN agencies for making this undertaking a reality.

As Resident Coordinator, I will continue to leverage the expertise of the UN system in Egypt in support to strategic financial planning, which translates into tangible and scalable progress toward sustainable development.

I thank you.

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