Prof. Ashraf El Araby: Signing a memorandum of understanding with the Financial Regulatory Authority comes within the framework of the Institute’s keenness to enhance areas of cooperation and partnership with various governmental and non-governmental bodies and institutions.
Dr. Muhammad Farid: Developing frameworks for joint cooperation with academic circles with the aim of exchanging experiences and enhancing sustainable development efforts and sustainable financing mechanisms.
The National Planning Institute and the Financial Regulatory Authority – the Regional Center for Sustainable Finance – signed a memorandum of understanding, In order to cooperate and exchange experiences in relevant fields of work and to enhance sustainable development efforts and sustainable financing mechanisms, This was in the presence of Dr. Muhammad Farid Saleh, Chairman of the Financial Regulatory Authority, and Dr. Ashraf Al-Arabi, President of the National Planning Institute.
In this regard, Prof. Ashraf El-Arabi, President of the National Planning Institute, explained that the signing of the memorandum of understanding comes within the framework of the Institute’s keenness to enhance areas of cooperation and partnership with various governmental and non-governmental bodies and institutions. Pointing out that the National Planning Institute and the Financial Regulatory Authority possess distinguished scientific, professional and administrative expertise that qualifies them to establish effective and fruitful partnerships that contribute to enhancing sustainability practices in the non-banking financial sector to support its contribution to achieving a just transition towards a sustainable economy.
Based on the Institute’s vision to play an influential and sustainable role in planning and development issues at the national level within the framework of the Sustainable Development Strategy (Egypt Vision 2030) and Egypt’s Climate Change Strategy (Egypt 2050), Al-Arabi pointed out that the National Planning Institute was one of the first bodies to prepare the carbon footprint report. The institute is also in the process of launching its sustainability report.
Al-Arabi explained that the institute, since its establishment, has been operating as a leading think tank and implementing a variety of training and capacity-building programmes. In addition to postgraduate programs, including the academic and professional master’s program in planning and sustainable development, in addition to the professional master’s program in monitoring and evaluation, The institute also has a specialized economic modeling unit, as well as a consulting and data analysis center (CDAC) to provide support to government institutions and the private sector through the expertise of distinguished scientific body members.
For his part, Dr. Muhammad Farid stressed the Financial Supervision Authority’s keenness to develop frameworks for joint cooperation with academic circles such as the National Planning Institute, This is through the Regional Center for Sustainable Finance with the aim of enhancing competencies and raising awareness regarding sustainable finance by launching awareness and capacity building programs, as well as conducting research and studies on sustainable finance. Encouraging the private sector to issue green bonds, social bonds, Sustainability bonds and other green financing instruments, In addition to completing efforts to activate the voluntary carbon emission reduction certificate trading market, And support the Egyptian state’s efforts to achieve carbon neutrality, In support of Egypt’s Vision 2030 to achieve sustainable development.
Farid added that the main objectives of cooperation between the two parties within the framework of this memorandum included: Improving non-banking financial markets (capital market, insurance, financing) and providing the necessary support for its development, Increasing awareness of the culture of sustainable development and sustainable finance, Responsible investment in the financial sector, In addition to enhancing the internal capacity building of both parties with regard to sustainability.
