Madrid: Minister of Planning, Economic Development and International Cooperation Rania Al Mashat emphasized the importance of effective partnerships, national ownership and integration, and a resilient governance structure for the success of debt swap programs.

According to State Information Service Egypt, Mashat made these remarks during a World Food Program (WFP) roundtable discussion hosted by Spain on debt swaps for sustainable development and building resilient food systems. The event was highlighted in a press release from the ministry.

Participants at the roundtable explored practical methods to enhance policy and operational frameworks for debt swaps and strategies to mobilize global support for integrating the debt for development swap tool into the international development finance agenda.

During the discussion, Mashat reviewed Egypt’s experience with debt swaps and her ministry’s role in this area. She showcased Egypt’s success stories, including cooperation with Italy, which secured funds for 1
14 development projects across various fields, and a debt swap program with Germany under Egypt’s Nexus on Water, Food and Energy (NWFE) platform. This initiative is part of Egypt’s National Climate Change Strategy (NCCS) 2050.

Mashat highlighted the outcomes of the debt swap program with Germany, including development projects aimed at improving school feeding and quality education, rehabilitating hydroelectric plants, and enhancing drinking water and sanitation services. She also mentioned ongoing projects under the third tranche of the swap program with Germany, which target school dropout prevention, child labor reduction, and various energy projects.

The roundtable discussion was part of the preparations for the 4th International Conference on Financing for Development (FfD4), scheduled for June 30 – July 3 in Seville, Spain.