The UN Economic Commission for Africa (ECA) Office for North Africa concluded a five-day fact-finding & advisory services mission to Egypt this week, as part of its program on “Enhancing fiscal resilience and sustainable finance in Egypt.”
The ECA delegation met with several Egyptian officials including Ghadeer Hegazi, Deputy Minister at the Ministry of Planning, Economic Development and International Cooperation; Magda Ghoneim, Deputy Governor at the Central Bank of Egypt; Rasha Abdelal, Commissioner at the Egyptian Tax Authority (ETA) and Mae Adel, Advisor to the Minister and Head of the Debt Management Unit at the Ministry of Finance.
“Our discussions primarily centered on how ECA can support Egypt’s efforts to equip itself with a comprehensive debt data base, develop new sustainable finance products and enhance the efficiency of the national debt management unit,” said ECA Director for North Africa Adam B. Elhiraika, who led the delegation.
This fact-finding & advisory services mission is part of ECA’s ongoing efforts to promote a more comprehensive approach to public debt management in African countries, enable them to better control national debt, reduce existing debt burdens and significantly improve their debt-carrying capacity. This, in turn, will facilitate greater access to long-term, low-cost financing to support low-carbon, resilient development.
ECA’s intervention in this area is based on two key components: diagnostic assessments and technical assistance, including training, on one hand, and embedded advisory services and the provision of tool, on the other.