Towards Shared Prosperity: the Ministry of International Cooperation and the French Development Agency (AFD) Launch New Country Strategy

Cairo, May 30, 2022 – Embodying the ethos of the multi-actor and multi-sector approach to accelerate the implementation of the 2030 Agenda, the Ministry of International Cooperation and the French Development Agency (AFD) launch the new country strategy until 2025, which falls under the theme “Towards Shared Prosperity”.

The collective journey in creating the new country strategy witnessed an important dialogue process that began since the beginning of 2019, which aimed to achieve the Government of Egypt’s priorities to fast-track social and economic progress, as well as adaptability and resilience. A memorandum of understanding was signed in January 2019 between the French Development Agency and the Ministry of International Cooperation, which was activated in 2021 through the signing of development agreements worth a total of 3.8 billion euros.

The Minister of International Cooperation, H.E Dr. Rania Al-Mashat, noted that the new country strategy aims to achieve three main priority themes: 1) boosting the integration of the Egyptian financial, commercial and production systems regionally; 2) support the development of social infrastructure and 3) promoting equitable and sustainable local development. The three pillars of the strategy also include key pillars in each of them: 1) promoting shared prosperity; 2) aligning development and climate goals; and 3) job creation, innovation and entrepreneurship.

In his speech, the Ambassador of France to Egypt, Marc Baréty, highlighted that the new country strategy will deepen the strong bilateral partnership between Egypt and France, and that the French Development Agency will provide more than 60% of the funds to improve public services, social inclusion, and developing infrastructure.

In her speech, Marie-Hélène Loison, Deputy Director General of the AFD, stated that the strategy reflects a renewed commitment to Egypt’s sustainable development, which is a result of the key role that the Ministry of International Cooperation plays in fostering coordinated governance to identify national priorities and reach the goal of shared prosperity. She also added that the French Development Agency will provide further technical and financial support to provide a comprehensive and collaborative approach in achieving the sustainable development goals.

Notes for the Editor:

Since the start of its operations in Egypt, the development finance portfolio of the French Development Agency currently amounts to around 3.1 billion euros to support Egypt’s sustainable development.