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Rania Al-Mashat: Parliament approves billion-dollar agreements to develop the health insurance system


Al-Mashat: The new agreements enhance the country's efforts to shift towards a sustainable transport system and develop health care services


The Ministry of International Cooperation is keen to advance the development efforts of the state in various fields through the principles of economic diplomacy


Rania Al-Mashat, Minister of International Cooperation, announced that the House of Representatives approved, in its plenary sessions this week, three agreements for the Ministry of International Cooperation, with the World Bank and the African Development Bank, worth about one billion dollars, to finance projects in the field of health to develop the health insurance system. comprehensive, as well as the transport sector and the development of railways.


The Minister of International Cooperation explained, in a statement, that the approved agreements come within the framework of the role played by the Ministry of International Cooperation to consolidate economic cooperation relations with multilateral and bilateral development partners, through the principles of economic diplomacy, to support the state’s development priorities and implement Egypt’s Vision 2030. which are consistent with the UN Sustainable Development Goals.



Al-Mashat indicated that the House of Representatives approved, in its plenary session, the Presidential Decision No. 190 of 2021 regarding the approval of a development financing agreement between the Government of the Arab Republic of Egypt and the International Bank for Reconstruction and Development, regarding a project to support the comprehensive health insurance system in Egypt at an amount of 400 million. dollars.


The House of Representatives also approved Decision of the President of the Arab Republic of Egypt No. 250 of 2021 regarding the approval of a development financing agreement between the Arab Republic of Egypt and the International Bank for Reconstruction and Development, regarding the development and safety project for the Egyptian Railways, amounting to 362.9 million euros, equivalent to 430.03 million dollars.


This is in addition to the decision of the President of the Arab Republic of Egypt No. 265 of 2021 regarding the approval of a development financing agreement between the Arab Republic of Egypt and the African Development Bank on the project to modernize Egypt’s railways at an amount of 145 million euros, equivalent to 172 million dollars.


The Minister of International Cooperation stressed the importance of soft development finances in supporting the efforts of different countries to implement development strategies, and support their orientation towards achieving the sustainable development goals, due to its soft conditions at the interest level that revolves around 1.5-2% and the long-term grace and repayment periods.


The Minister of International Cooperation indicated that despite the high demand for development finances worldwide, especially after the Corona pandemic, Egypt was able, through its distinguished relations with multilateral and bilateral development partners, and its clear reform program and ambitious development plans, to be a priority for all development partners.


Al-Mashat explained that Egypt's experience at the level of development cooperation enjoys international appreciation and praise, which was evident during the launch ceremony of the book "Principles of Economic Diplomacy to Strengthen International Cooperation and Development Finance", through the London School of Economics, which documents Egypt's experience at the level of international cooperation and promotes It has it in international forums, and makes it available to other developing and emerging countries to benefit from it, especially since the Egyptian experience was based on clear international standards and was implemented with pure national efforts and applied on the ground.


She pointed out that the principles of economic diplomacy for the Arab Republic of Egypt are based on three principles: the platform for joint coordination, matching development financing with the UN goals for sustainable development, and listing international participation. Al-Mashat also praised the role played by the House of Representatives, at the level of oversight and legislation, to support the efforts undertaken by the state to move forward towards development.



It is worth noting that the Ministry of International Cooperation held during the past year two platforms for joint coordinating cooperation in the transport and health sectors, in which national authorities and all multilateral and bilateral development partners participated, to present the financing needs of the two sectors, which contributed to the provision of funds for the development of the infrastructure of the transport sector at a value of $1.8 billion. in 2020, in addition to $477 million for the health sector.

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