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The declaration, issued after the ministerial meeting, affirmed that development financing is a core priority and highlighted the urgent need to address illicit financial flows and strengthen the role of multilateral financing.
Egypt participated in the drafting and launch of the G20 Development Working Group Ministerial Declaration in South Africa, which called for enhancing domestic resource mobilisation and innovative financing mechanisms to address global challenges.
The declaration, issued after the ministerial meeting, affirmed that development financing is a core priority and highlighted the urgent need to address illicit financial flows and strengthen the role of multilateral financing. Minister of Planning, Economic Development and International Cooperation, Rania Al-Mashat, represented Egypt at the meeting.
In her remarks, Al-Mashat highlighted the need to expand blended finance, public-private partnerships, and debt-for-development swap programmes, pointing to Egypt’s experience with Italy, Germany, and China as a successful and replicable model.
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She stressed the importance of allowing the private sector to play an effective role in development financing, improving the governance of international financial institutions, and strengthening the United Nations’ role in global economic structuring. She also called for updating the basis for calculating Debt Sustainability Analysis (DSA) to ensure a fairer assessment for developing countries.
