Arab Finance: Dr. Rania Al-Mashat, Minister of Planning, Economic Development and International Cooperation, held a meeting with the joint mission from the World Bank and the International Finance Corporation, to discuss joint cooperation in the framework of the J-CAP, according to the J-CAP program. Statement cabinet.
Dr. Rania Al -Mashat stressed the importance of strengthening and expanding the scope of the capital market in Egypt, as it is a major driver to achieve sustainable growth, create job opportunities, and promote long -term prosperity, and Al -Mashat indicated that in recent years, Egypt has started an ambitious journey aimed at modernizing and strengthening its financial sector, in recognition of the importance of the presence of an effective and attractive capital market for local and international investments, contributing to diversifying the sources of financing and motivating Innovation.
She also indicated that Egypt issued the first sovereign green bonds in the Middle East and North Africa region in 2020, confirming Egypt's commitment to build on the successes and accelerate the transformation process in the Egyptian capital market.
On the opportunities for partnership with the J-CAP program, Dr. Rania Al-Mashat said that there is a great value in exploring a partnership with the joint capital market program launched by the World Bank and the International Finance Corporation, as their extensive experiences and global experiences in developing financial markets can be a decisive element in enhancing our efforts to achieve the target economic growth rate, especially in light of the unstable global economic environment today.
The Minister of Planning, Economic Development and International Cooperation added that cooperation with the J-CAP program can contribute to achieving a number of strategic goals, including enhancing the efficiency of the local debt market and improving its management mechanisms, expanding the investor base in the Egyptian market, increasing financing opportunities and accessing small and medium enterprises in Egypt, in addition to supporting the expansion of the Egyptian carbon market and turning it into a regional center, stimulating the bond market for large companies The medium size, in addition to exploring innovative financing tools that depend on mixed financing to support sustainable development, encourage partnership between the public and private sectors, and propose specific policies to facilitate investments related to capital markets.
She emphasized that the joint work with the “J-CAP” program will enable us to launch the full potential of the Egyptian capital market and contribute to achieving the national goals of economic development, explaining that the partnership with the program will have a pivotal role in enhancing the flexibility of the Egyptian economy, increasing its inclusion, and achieving sustainable development in the long term.
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