Mashat calls on international corporations to show more flexibility

CAIRO - 15 April 2020: Minister of International Cooperation Rania el Mashat Wednesday called on international corporations to show more flexibility in assessing funding gaps that have changed against the backdrop of developments in international trade movement and capital inflow due to the coronavirus pandemic.

Commenting on the International Monetary Fund (IMF)'s Global Financial Stability Report, Mashat said the global economic activity is going through the worst phase in 100 years and economic conditions have been affected in each country due to the coronavirus.

During a meeting held via video-conference Tuesday evening as part of Spring meetings of the IMF and the World Bank, Mashat reviewed Egypt's strategy in confronting the spread of the novel virus and global and local efforts to face the health impact and economic challenges that ensued.

The World Bank projects in Egypt have contributed to overcoming the negative impact of the virus outbreak such as the education reform project, digitization in education and others, she said.