Worth $500 million, the deal is meant to boost Egypt’s efforts to help achieve food security and to strengthen the Egyptian economy in the face of repercussions of the war currently going on in Europe.
Earlier, Mashat held a meeting with 15 national bodies at the beginning of July to discuss the report's first draft.
The Emergency Food Security and Resilience Support Project will help cushion the impact of the war in Ukraine on food and nutrition security in Egypt.
Egyptian Minister of Local Development Mahmoud Shaarawy received a delegation from the World Bank Saturday, where they discussed topics of collaboration in the upcoming COP27 conference.
Egypt, Lebanon and Syria, on June 21, signed an agreement to transport 650 million cubic meters of gas annually from Egypt to Lebanon via Syria, in a ceremony held at the Lebanese Ministry of Energy in Beirut.
The Indonesian minister of finance visits the Sharm El-Sheikh Museum.
The bank had raised its forecast in April by 0.3 percent to reach 5.6 percent in January.
Egypt’s Foreign Minister Sameh Shoukry, discussed with a delegation of executive directors of the World Bank (WB) ways to strengthen relations between the two sides at various levels.
Mashat’s meeting with Nicholas Stern, chair of the Grantham Research Institute on Climate Change and the Environment at the London School of Economics, came on the sidelines of the 2022 Spring Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) in Washington.
This came as she participated in the Intergovernmental G24 Ministers and Governors Meeting, which is being held in conjunction with the WBG and IMF’s 2022 Spring Meetings.
The size of the current funding portfolio between Egypt and the World Bank is $5.5 billion directed towards 15 projects.
“The war in Ukraine and its consequences are creating sudden shortages of energy, fertilizer, and food, pitting people against each other and their governments. Even people who are physically distant from this conflict are feeling its impacts.
The former director of the Rehabilitation Administration at the Ministry of Solidarity will be tried over seizing money from the World Bank’s Takaful and Karama cash transfer program in Egypt.
The visiting members praised the water management system in Egypt and the water reuse projects that have been and are currently being implemented.
Minister Rania A. Al-Mashat: The appointment of 98 female judges is a transformative and historic step that will help to break gender stereotypes and broaden access to justice.
This came one year and a half after the outbreak of the pandemic in addition to reforms of the Egyptian energy sector over the past few years.
The meeting included Ayat Soliman, Regional Director for the World Bank Group's Sustainable Development Department for the Middle East and North Africa, Marina Wes, World Bank’s Country Director for Egypt, Yemen and Djibouti, Robert Bou Jaoude, World Bank Operations Manager for Egypt, and Layali Abdeen, Senior Investment Guarantee Officer at MIGA.
He said the political leadership is keen on cooperation with international development partners in the domains of environment-friendly green transport projects including the monorail and the light electric train.
The World Bank launched a new Egypt Economic Monitor, The Far-Reaching Impact of Government Digitalization, at an event co-organized with Egypt’s Ministry of International Cooperation. This report details the World Bank’s assessment of Egypt’s latest economic developments and outlook, and provides analysis focused on the government’s progress toward digital transformation.
For his part, the World Bank’s VP for the MENA, Ferid Belhaj congratulated the Ministry on releasing its 2021 Annual Report, noting that it documents a strong message regarding Egypt’s progress to achieving development through tangible, on-ground projects.