CAIRO – 7 October 2023: Egypt’s Minister of International Cooperation Rania Al-Mashat discussed cooperation today with Secretary-General of the France-based Organization for Economic Cooperation and Development (OECD) Mathias Corman.
Al-Mashat and Corman met today during the minister’s participation in the Green Finance and Investment Forum in France, ahead of the OECD chief’s expected visit to Egypt this October.
In this regard, Al-Mashat discussed proposals to enhance ways of joint work with the OECD on south-south cooperation.
The meeting discussed the efforts made with the organization to advance south-south and triangular cooperation, such as a mechanism to stimulate development efforts and provide the opportunity to share successful development experiences based on multilateral partnerships.
Al-Mashat stressed the importance of these mechanisms in stimulating development efforts in developing countries.
Al-Mashat and Corman discussed means of utilizing the organization’s platforms to transfer Egypt’s experience to other developing and emerging countries in the field of international partnerships and evaluation of development cooperation projects.
Such fields also include the involvement of relevant parties in creating comprehensive partnerships to drive inclusive and sustainable growth.
The meeting discussed various aspects of cooperation between Egypt and the organization in various fields in light of their extended history in enhancing the effectiveness of development cooperation.
They also discussed benefiting from OECD methodologies, policies and platforms in stimulating blended finance, empowering the private sector and applying international standards in development cooperation efforts.
Al-Mashat highlighted the OECD efforts in strengthening the role of bilateral development partners and multilateral development finance institutions with regard to developing new mechanisms for multilateral cooperation.
These mechanisms suit the needs of emerging and developing economies, Al-Mashat said, affirming the need to increase the financial resources and technical support necessary to meet the challenges of developing countries in development at the international level.
Furthermore, Al-Mashat underlined the necessity of advancing fair financing efforts for the sustainable development agenda and climate action.
She also stressed the importance of concessional development financing in stimulating and mobilizing private sector capital and financing to promote development and climate action.
Al-Mashat appreciated the close partnership with the OECD Development Cooperation Department in implementing methodologies for matching development financing with the UN SDGs (ODA-SGD Mapping).
Through these methodologies, the Ministry of International Cooperation in 2020 mapped all 377 development financing projects with the SDGs in a way that enhances the ability to link projects to meet development priorities and needs, Al-Mashat said.
An interactive map has been launched that includes the distribution of all funded projects from development partners distributed across the governorates to determine the contribution of these funds to the implementation of each of the global goals.
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