Minister of Planning, Economic Development and International Cooperation Rania Al Mashat said effective partnerships, national ownership and integration, and a resilient governance structure are key factors the success of debt swap programs.
Mashat made the remarks during a World Food Program (WFP) roundtable discussion hosted by Spain on debt swaps for sustainable development and building resilient food systems, the ministry said in a press release on Friday 28/3/2025.
Participants explored practical ways to enhance policy and operational frameworks for debt swaps, and how to mobilize global support for integrating the debt for development swap tool into the international development finance agenda.
Reviewing Egypt’s debt swap experience as well as her ministry’s role in this regard, Mashat showcased the country’s success stories, including the fruitful cooperation with Italy, which helped in securing the funds needed for 114 development projects in various fields, and a debt swap program with Germany under Egypt’s Nexus on Water, Food and Energy (NWFE) platform – a part of Egypt’s National Climate Change Strategy (NCCS) 2050.
Mashat shed light on the results of the debt swap program with Germany as well as the development projects pursued under the program to provide better school feeding and quality education, rehabilitate hydroelectric plants, and improve drinking water and sanitation services.
She also highlighted ongoing projects under the third tranche of the swap program with Germany, which covers a set of projects to combat school dropout and child labor, along with some energy projects.
The roundtable discussion was held in preparation for the 4th International Conference on Financing for Development (FfD4), set for June 30 – July 3 in Seville, Spain.
