World Bank
It is restructure and revamp to the health insurance system, and having a full support from President Abdel Fattah El Sisi, he added.
Egyptian Foreign Minister Sameh Shoukry and the President of the World Bank Group, David Malpass, discussed on a phone call Wednesday the state's development efforts and distinguished performance indicators of the Egyptian economy.
The minister gave an overview of ongoing projects.
The program focuses on three thematic pillars, including: enhancing macro-fiscal sustainability, enabling private sector development, and fostering women’s economic inclusion.
This came during Minister Al-Mashat’s participation in the Arab Governors meeting with the World Bank Group’s President, David Malpass.
The international community and financial institutions should assume a bigger role in funding mega infrastructure projects through soft loans and blended and innovative financing, Minister of International Cooperation Rania el-Mashat said Friday.
El-Said pointed to the second phase of the national economic reform program.
The Minister of International Cooperation: $365 million within the ongoing portfolio of the Ministry of International Cooperation to promote climate action and support the green transition
This came during Al-Mashat’s meeting with Ibrahim Dajani, Regional Director for Sustainable Development and Infrastructure in the Middle-East and North Africa Region at the World Bank Group (WBG), during his visit to Egypt.
This came during Al-Mashat’s meeting with Ayat Soliman, Regional Director of the World Bank Group's Sustainable Development Department for the Middle-East and North Africa (MENA) region, on her visit to Egypt, to discuss joint relations between the Government of Egypt and the World Bank Group (WBG) that aimed to achieve sustainable development across several fields.
Renaud-Basso said the Egyptian economic reform program has contributed to the recovery of the economy, raising growth rates and maximizing direct foreign investments.
The World Bank: “We are keen on continuous dialogue with our partners, and the reforms established have helped the Egyptian economy persist despite challenges.”
Entering its third year, the Human Capital Project includes over 80 countries working to invest in human capital for a “green, resilient, and inclusive recovery," she said.
“Collective global solidarity creates the necessary space for an inclusive and sustainable environment that is resilient to future shocks” said Al-Mashat.
In a report Monday, it added that remittances from abroad reached 24.4 billion in 2020, representing 6.7 percent of GDP.
World Bank Group is currently working on preparing a systematic diagnostic study on Egypt in preparation for setting up the framework for the strategic partnership for Egypt for the years 2021-2025.
Al-Mashat noted that while the world was taken aback by the COVID-19 pandemic’s health and global economic crisis, many households around the world struggled financially and this was coupled with health anxieties creating increased mental stress.
On December 27, many important events took place that changed the world, including the completion of the construction of the Hagia Sophia Cathedral and the signing of the agreement to build the Aswan High Dam.
The agreement was signed on July 5, 2020, and approved by the House of Representatives.
Gamea said that Egypt achieved progress in the field of economic reform which helped boost the status of the Egyptian economy on the international economic map.
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