Egypt’s Minister of International Cooperation Rania Al-Mashat has shared a message of cooperation and public-private collaboration in the World Economic Forum’s 2019-2020 report.
In the statement, Minister Al-Mashat highlighted the forum’s activities and initiatives in which she took part to push Egypt’s development forward.
The Minister reflected on her involvement with the World Economic Forum since being nominated as a Young Global Leader in 2014.
She noted that the “forum provides a unique platform for exchange between young potential leaders from all over the world who advocate for change and reform in different disciplines”.
Minister Al-Mashat added that the Forum’s diversity and multidisciplinary nature enabled her to engage with it in several ways. This has included throughout her time as an Advisor to the Chief Economist at the International Monetary Fund (IMF), and serving in several ministerial posts in Egypt.
She added that she has also participated in sessions, moderated panels and joined various stewardship boards.
“The most relevant and contemporary global topics shaping the political economy of policymaking are highlighted, debated, and discussed in an open exchange between public, private, and civil society stakeholders,” the minister said.
The statement highlighted her activities with the Forum in 2020, referring to her role in pushing forward the agenda of ‘Principles of Stakeholder Capitalism’. This agenda aimed to create sustainable and inclusive solutions for the region, and highlight the importance of public-private partnerships.
Minister Al-Mashat also partnered with the World Economic Forum to advance the national and global gender agenda in Egypt. This took place through the launch of the “Closing the Gender Gap Accelerator” initiative, in collaboration with Egypt’s National Council for Women (NCW).
The move has sealed Egypt’s forward thinking position as the first country to launch such an initiative in the Middle East and Africa (MEA) region, with the minister calling it “an important game changer”.
Minister Al-Mashat also joined the Equality and Inclusion Stewardship Board, which brought together representatives from the public and private sectors, international organisations and academic institutions.
The board aims to shape a policy agenda that reflects the changing global dynamic, and address the implications the novel coronavirus (COVID-19) pandemic on certain groups and minorities.
In her conclusion, the Minister underscored the opportunity to “do things differently” and uphold the spirit of multi-stakeholder cooperation through public and private sectors. She said that this is essential to “building bridges and reshaping the future”.
According to its annual report for 2020, the Ministry of International Cooperation secured development financing agreements worth $9.8bn during the year. Of this amount, $6.7bn was allocated to financing sovereign projects, and $3.1bn in support of the private sector.