CAIRO – 17 April 2026: Egypt’s Minister of Foreign Affairs, International Cooperation, and Egyptians Abroad, Badr Abdelatty, met on Thursday with Ajay Banga, President of the World Bank Group.
Acting in his capacity as Egypt's Governor to the World Bank Group, Minister Abdelatty held the meeting on the sidelines of the Spring Meetings of the World Bank and the International Monetary Fund in Washington. The meeting, which was also attended by Dr. Ahmed Rostom, Minister of Planning and Economic Development, addressed various ways to enhance cooperation between Egypt and the World Bank.
During the discussion, Minister Abdelatty expressed his appreciation for the World Bank President's visit to Egypt in March 2026, emphasizing a strong desire to build upon its outcomes, particularly regarding the second phase of the Development Policy Financing Framework.
The Minister commended the existing cooperation between Egypt and the World Bank, highlighting the support provided by the Group in assisting the state's efforts to achieve its economic and development priorities. He praised the strategic partnership between Egypt and the Bank, which has contributed to the implementation of the economic reform program and the advancement of sustainable development, including support for national projects and presidential initiatives such as the "Decent Life" initiative.
The Foreign Minister also reviewed the government's efforts in developing the government offerings program and expanding the base of listed companies. He emphasized that empowering the private sector is a top priority, as it serves as the primary driver of economic growth.
Furthermore, the Minister explained that the state is working to create an attractive investment environment by implementing a comprehensive package of reforms. These include tax and customs incentives as well as the simplification of procedures through digital transformation. He reviewed measures taken to improve the business environment, such as developing the tax system, automating services, expanding the tax base, and reforming the legislative environment related to investment.
Minister Abdelatty affirmed the Egyptian government's commitment to continuing the economic reform program to achieve inclusive and sustainable growth. He noted that these reform efforts are based on several key pillars, including strengthening the role of the private sector in economic activity, achieving fiscal discipline, and improving the sustainability of public debt.
The meeting also addressed the repercussions of regional military escalation on the global economy. The Minister emphasized that the Egyptian economy has demonstrated resilience thanks to structural and monetary reforms implemented in recent years, most notably the adoption of a flexible exchange rate system.
The Minister explained that the state's approach to current challenges is based on three main pillars: securing energy supplies, enhancing food security, and maintaining fiscal discipline. This is supplemented by proactive measures to mitigate the economic impacts of crises and preserve financial stability.
Minister Abdelatty reviewed the state's efforts to strengthen its capacity to confront the economic repercussions of regional tensions, including ensuring the sustainable supply of energy and essential commodities within a proactive approach aimed at maintaining macroeconomic stability.
Concluding the meeting, the Minister emphasized the importance of strengthening the role of multilateral development banks in bridging the development financing gap. He suggested providing concessional financing and developing innovative financial instruments to support the efforts of developing countries in achieving economic transformation.
He also stressed the need to reform the international financial system to better reflect the priorities of developing countries and enhance their ability to effectively address global challenges.
For his part, the President of the World Bank Group expressed his appreciation for the distinguished relationship between the World Bank and Egypt. He spoke highly of his visit to Egypt in March 2026 and his meeting with the President, noting that he witnessed firsthand the serious efforts undertaken by the Egyptian government to enhance the efficiency and competitiveness of the economy.
He expressed his aspiration to further strengthen frameworks of cooperation and joint coordination in the coming period to support the country's development priorities and maximize the benefits of the existing partnership.
The World Bank President praised Egypt's economic performance amidst current regional and international challenges, noting that the package of structural reforms implemented by the government has contributed to financial stability and an improved investment climate.
Finally, he expressed his appreciation for the pivotal role played by Egypt at both the regional and international levels in supporting stability and advancing development efforts, reinforcing its position as a key partner in addressing shared challenges.
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