ArabFinance: Egypt is considering issuing sustainability bonds in 2022 to finance the presidential Decent Life (Hayah Karima) initiative in order to reach the countrys sustainable development goals (SDGs), Minister of International Cooperation Rania Al-Mashat uncovered.

The announcement took place on the sidelines of a meeting between Al-Mashat and the UN Resident Coordinator in Egypt Elena Panova and UN-appointed expert and adviser Antonio Vigilante to chart a vision for cooperation between the UN and Egypt over securing funding for Decent Lifes inclusive development projects.

Decent Life is a unique model that should be built on regionally and globally as a pioneer in development experience, Al-Mashat said.

For her part, Panova said that the UN carries out over 400 activities that affect 1.4 million beneficiaries in the participating villages, adding that Decent Life is a significant opportunity to reach the 2030 SDGs.

The UNPDF, launched in 2006 with the Ministry of International Cooperation as co-chair, represents the UNs cooperation framework with the Government of Egypt.

In May 2021, Al-Mashat and Panova launched a roadmap for the new UNPDF (2023-2027), which aims to support the governments efforts in implementing economic, social and environmental development, supporting sustainable development.

The ministrys 2021 annual report detailed that total development financing in 2021 amounts to $10.2 billion, including $8.7 billion directed to public sector development and $1.57 billion directed to private sector development.

According to the UN partnership online platform for the SDGs, the initiative has contributed to mitigating the negative impacts of COVID-19 through improving living conditions of the most in-need groups.

The goals of this initiative are to be achieved through providing decent housing, water and sanitation for deprived families and medical and educational services as well as establishing micro-projects for those most in-need and providing in-kind support periodically to most in need families.

It is worth noting that Egypt has allocated EGP 150 billion in the current FY 2021/2022 budget to finance Decent Life projects.

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