CAIRO, Jan 30 (MENA) – Minister of Foreign Affairs, Emigration and Egyptian Expatriates Badr Abdelatty affirmed that Egypt – in light of President Abdel Fattah al-Sisi’s Chairmanship of the AUDA-NEPAD Heads of State and Government Orientation Committee (HSGOC) – gives special priority to addressing the continental infrastructure financing gap through mobilizing investments, enhancing bankable projects, and strengthening partnerships with regional and international financial institutions.
Abdelatty made the remarks on Friday during his participation – upon Sisi’s directives – in the high-level virtual meeting of the Presidential Infrastructure Champion Initiative in Africa (PICI), chaired by South Africa President Cyril Ramaphosa, with the participation of a number of African heads of state and government, senior African officials, and the Chief Executive Officer of the African Union Development Agency-NEPAD.
Abdelatty highlighted the ongoing efforts to study the feasibility of establishing an African Development Fund as a potential additional mechanism to support financing for priority projects, stressing Egypt’s continued exchange of expertise and provision of capacity-building programs for African countries, particularly through the Egyptian Agency of Partnership for Development and the NEPAD agency.
At the outset of his speech, Minister Abdelatty conveyed President Sisi’s greetings to the participating leaders, expressing Egypt’s appreciation for President Ramaphosa’s leadership of the initiative.
He commended the role played by the African Union Development Agency-NEPAD and the Secretariat of the presidential initiative in developing infrastructure and achieving development and continental integration, emphasizing that the initiative reflects the firm conviction that infrastructure development is a fundamental pillar for achieving economic growth, enhancing regional integration, and supporting resilience, thereby contributing to the implementation of the African Union’s Agenda 2063.
Abdelatty pointed out that the existing continental challenges in the fields of transport, energy, and digital connectivity directly affect efforts to achieve sustainable development, enhance intra-African trade, and advance industrialization pathways across the continent.
He affirmed that the Presidential Infrastructure Initiative represents a practical framework that transforms political commitment into tangible actions and implementable projects, praising the achievements made over the past period in overcoming many of the traditional challenges facing major infrastructure projects in Africa.
Abdelatty also underscored Egypt’s pioneering role within the initiative through leading the Lake Victoria and Mediterranean Sea Project (VIC-MED), which aims to enhance economic integration among Nile Basin countries by facilitating the movement of goods and people through a low-cost and eco-friendly mode of transport.
He emphasized the extensive accumulated expertise of Egyptian institutions and companies in implementing major infrastructure projects according to the highest standards of efficiency and quality, qualifying them to contribute effectively to the implementation of the initiative’s projects.
He reaffirmed Egypt’s commitment to continuing active engagement in implementing the projects of the Presidential Infrastructure Initiative and the Program for Infrastructure Development in Africa, contributing to turning continental development corridors into a tangible reality that serves the peoples of the continent. (MENA)
FM: Egypt gives priority to addressing continental infrastructure finance as Sisi chairs HSGOC Egypt Independent.
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