CAIRO - 31 August 2023: Dr. Rania Al-Mashat, Minister of International Cooperation and Governor of Egypt at the World Bank Group, met with Stephen Gumpert, the new World Bank Regional Director for Egypt, Yemen, and Djibouti, who assumed his position at the beginning of mid-August, succeeding the previous Regional Director, Marina Wess.
The meeting touched on discussing various aspects of partnerships, developing cooperation between Egypt and the World Bank Group, and the successive developments that have occurred over the past period, most notably the launch of the new strategic partnership framework for the period 2023-2027, with the participation of the leadership of the World Bank, the Ministry of International Cooperation and in the presence of the Prime Minister and a number of ministers and senior officials, Egyptian government officials and development partners.
At the outset of the meeting, the Minister of International Cooperation welcomed the new regional director of the World Bank in Egypt, wishing him success in his new mission towards strengthening partnership frameworks aimed at achieving sustainable development.
For his part, Stephen Gambert thanked the Minister of International Cooperation for the warm reception and her role in strengthening the existing partnership between Egypt and the World Bank.
He also stressed the World Bank Group’s keenness to move forward in expanding the scope of the partnership with the Egyptian government to meet development priorities, stimulate private sector participation, and enhance the ability to Addressing the challenges facing development efforts.
The Minister of International Cooperation also discussed strengthening technical support efforts for many sectors, especially empowering the private sector, and mixed financing for water desalination projects, irrigation systems, river transport, and developing areas related to the blue economy, stressing the importance of the reports issued out by the World Bank in Egypt.
Al-Mashat discussed, with the new Regional Director of the World Bank, conducting a new study to evaluate the situation of foreign direct investment in Egypt, in addition to preparing the national strategy for industry, and the importance of these two studies for the state in light of its endeavor to attract more foreign direct investment and localize industry in various sectors.
The meeting discussed preparations for the annual meetings of the World Bank Group scheduled to be held in Marrakesh, as well as a roadmap for developing the role of the World Bank Group to play a greater role in fighting poverty and promoting shared prosperity.
The ongoing portfolio of development cooperation between the Arab Republic of Egypt and the World Bank Group includes 14 projects worth $6.9 billion, in the fields of education, health, transportation, social protection, renewable energy, water desalination, housing, local development, and the environment.
Comments
Leave a Comment