Egypt’s Minister of International Cooperation Rania Al-Mashat met with Soha Ali, Executive Director and Senior Country Representative of JPMorgan Chase Egypt, and a group of international investors and investment fund officials, on Tuesday. They discussed ways to enhance cooperation in promoting investments, financial services and development solutions, according to a ministry statement. The meeting also reviewed development financing to encourage private sector participation in development.
The minister explained the framework of international cooperation and development financing, as well as the ministry’s role in enhancing economic relations with multilateral and bilateral development partners, international and regional institutions. She emphasized the importance of the role that international banks can play in supporting sustainable development efforts by attracting investments and promoting the transition to a green economy.
The meeting also discussed global economic developments and their impact on emerging and developing economies, and the need to enhance multi-stakeholder cooperation and coordinate the efforts of financial institutions, the private sector and non-profit organizations with governments to support the achievement of sustainable development goals, fulfill climate commitments and provide equitable financing.
Ali affirmed JPMorgan Chase’s commitment to its operations in Egypt and to strengthening its relationship with the government, financial institutions and companies to support economic development efforts and stimulate private sector investments.
Al-Mashat presented the details of the national platform for the Nexus of Water, Food and Energy (NWFE) programme, which links water, food and energy projects. She said that the programme is a model that can be followed by developing countries and emerging economies to stimulate climate investments and provide attractive investment projects in the fields of mitigation and adaptation to climate change.
The programme also aims to enhance private sector investments in priority projects in the water, food and energy sectors through blended financing. The meeting discussed ways to cooperate with JPMorgan Chase in mobilizing funding for the programme’s projects.