World Bank
In collaboration with the International Competition Network (ICN), the WB’s Competition Advocacy Contest highlighted Egypt’s commitment to fostering equal opportunities in the market
Egypt’s Minister of International Cooperation Rania Al-Mashat witnessed signing of 7 development grant agreements funded by the Italian government and implemented by United Nations organizations
Egypt and World Bank join forces in a collaborative workshop to boost ongoing development projects and align strategies with Egypt's new national vision.
According to the terms of the agreement, this amount can be converted into other currencies as needed to support the project's financing.
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.
Egypt takes significant strides towards financial decentralization and local governance development.
Al-Mashat thanked the World Bank team for their efforts over the past period in preparing the partnership in cooperation with the ministry.
They discussed the possible support to the Egyptian government in light of the new country cooperation 2023-2027, and the priorities of the government.
A Q&A reviews the most important aspects of the relationship with the WBG and its affiliated institutions.
The Minister pointed out that the joint relations are not limited only to development cooperation, but that Egyptian expertise has also enriched the Bank's work.
The new CPF was prepared through joint work and continuous discussions with all relevant parties from the national authorities as well as the private sector.
The World Bank elaborated that Egypt's forecast reflects the expectation that its competitiveness might be increased due to the recent depreciation of the Egyptian pound.
That is in addition to $2 billion for the private sector from the IFC as well as guarantees from the Multilateral Investment Guarantee Agency (MIGA).
“This grant will reinforce the environmental benefits of the original project, both at the local and global levels, by improving the management of electronic and healthcare waste,” the WB said in a statement.
Minister of International Cooperation Meets the WBG Regional Director for Equitable Growth, Finance and Institutions to Discuss 2023-2027 Country Partnership Framework (CPF) & Private Sector Engagement
The World Bank stressed that the economic reforms carried out by Egypt will help overcome the effects of the current international crisis.
Egypt’s President Abdel Fattah Al Sisi met on Friday with Jake Sullivan National Security Advisor of the United States in Washington
Egypt’s President Abdel Fattah Al Sisi met on Friday with David Malpass President of the World Bank in Washington on sidelines of the US-African summit.
Mashat noted that the government receives final notes on the draft strategy from national bodies and ministries to be announced after the UN climate conference, COP27, a matter which represents a new chapter in Egypt-WB relations.
The approval came within the framework of development cooperation efforts between the Arab Republic of Egypt and multilateral and bilateral development partners to support the country’s development efforts In various fields.
