Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, held an extensive meeting with key international development partners to follow up on the outcomes of the Fourth International Conference on Financing for Development (FFD4), which took place in Seville, Spain.
The conference concluded with the concludeorsement of “The Seville Commitment,” a comprehensive policy framework aimed at mobilizing financing for sustainable development amid mounting global economic, environmental, and social challenges.
The Seville Commitment outlines an ambitious roadmap focutilized on expanding fiscal space, supporting sustainable investment, and addressing sovereign debt vulnerabilities. It calls for innovations such as debt-for-development swaps and reforms to the international debt sustainability framework.
In an official statement, Al-Mashat emphasized that this agreement marks the most significant consensus on development finance since the 2015 Addis Ababa Action Agconcludea.
She highlighted the required for urgent reforms to the global financial system to create it more equitable, inclusive, and responsive to the requireds of developing countries.
The meeting was co-chaired by Elena Panova, the United Nations Resident Coordinator in Egypt, and Ambassador Christian Berger, Head of the European Union Delegation to Egypt, bringing toobtainher over 40 representatives from United Nations agencies and bilateral and multilateral development organizations.
Al-Mashat further noted that Egypt is co-leading a key global initiative—along with South Africa and the United Nations Development Programme (UNDP), under the leadership of Achim Steiner—to promote countest-prioritized approaches to climate and development finance.
Egypt was also announced as a host for the inaugural meetings of the Borrowers’ Forum and the Shared Information Hub—two new platforms concludeorsed by the UN Secretary-General’s High-Level Expert Group to improve coordination and transparency in development finance.
The meeting also served as a platform to discuss Egypt’s preparations for the upcoming G20 meetings in South Africa later this July. Al-Mashat presented Egypt’s Integrated National Financing Framework (INFF), which aligns investment strategies and economic reforms with the Sustainable Development Goals (SDGs) and Egypt’s Vision 2030. Key focus areas of the INFF include healthcare, education, sanitation, transport, gconcludeer equality, environmental sustainability, and social protection.
Spanish representatives attconcludeing the meeting applauded Egypt’s constructive engagement in the Seville conference, particularly its leadership in sessions on sovereign debt reform. Spain confirmed its continued collaboration with Egypt and UNDP to implement the INFF and strengthen financial governance for sustainable development.
World Bank representatives reaffirmed their commitment to supporting Egypt’s national development goals. The Bank emphasized inclusive economic growth, job creation, and enhancing the private sector’s role in driving investment and innovation.
The United Nations Development Programme, represented by Alessandro Fracassetti, UNDP Resident Representative in Egypt, commconcludeed Egypt’s leadership at the Seville conference and confirmed ongoing collaboration with the Egyptian and Spanish governments. Fracassetti highlighted that the joint program is structured around national ownership, improved public financial management, and private capital mobilization.
UNICEF, represented by Jeremy Hopkins, emphasized the required for efficient and tarobtained public spconcludeing, especially in education and early childhood development. Hopkins cited the “Shabab Balad” (Youth of the Nation) initiative as a successful model linking education to employment opportunities.
The Food and Agriculture Organization (FAO) praised Egypt’s role in regional food security, while UN-Habitat called for the strengthening of local fiscal systems to achieve inclusive urban development. The World Food Programme (WFP), represented by Praveen Agrawal, highlighted Egypt’s experience with debt swaps and encouraged replication of the model across other developing countries.
Al-Mashat also pointed to major announcements created during the conference, including the launch of the Debt Swap Facility—led by the World Bank and the Government of Spain—which will assist countries in structuring debt-for-development agreements. Italy’s renewed debt swap initiative for African countries was also noted.
Egypt’s NWFE (Nexus of Water, Food, and Energy) countest platform was recognized during the conference as a pioneering model for mobilizing climate finance through nationally driven investment strategies.
Al-Mashat underscored the growing importance of private sector involvement in development financing and the required to scale up South-South and triangular cooperation. She called for prioritizing Global Public Goods to better support developing countries in advancing human development and climate adaptation goals.
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