World Bank

Gov’t studies World Bank suggestion for new entity to centralize ownership of state-owned assets: Planning Minister

Mon, 13 May 2024 - 02:48 GMT

This decision follows a suggestion from the World Bank and supports the government's plan outlined in its state ownership policy document

Minister Al-Mashat emphasizes importance of joint financing for development projects

Mon, 22 Apr 2024 - 09:09 GMT

The newly launched “Global Collaborative Co-Financing Platform” aims to channel additional capital, broaden the scope and impact of development, mobilize funds for large-scale projects, and alleviate the burdens faced by beneficiary nations

Mashat urges WB to focus on sectors supporting sustainable growth

Sat, 20 Apr 2024 - 10:29 GMT

Egypt’s Minister of International Cooperation Rania el Mashat called on the World Bank Group (WB) to assume its role as a knowledge bank to enhance cooperation and coordination with different countries to focus on the sectors supporting inclusive and sustainable growth.

Al-Mashat stresses structural reforms' importance for long-term economic resilience

Thu, 18 Apr 2024 - 04:54 GMT

During her presentation, Minister Al-Mashat highlighted the distinction between short-term economic stability policies and long-term structural reforms

World Bank expected to disburse $1B from $6B package during H2 2024: Al Mashat

Thu, 18 Apr 2024 - 02:09 GMT

Egypt’s Minister of International Cooperation (MoIC), Rania Al Mashat, recently stated in an interview that the World Bank (WB) is expected to disburse $1 billion during the second half of 2024 as part of the $6 billion support package announced back in March

Egypt aims to reduce its debt rates to 80% by 2027

Thu, 18 Apr 2024 - 11:25 GMT

This strategy aims to extend the life of debt and minimize its burden and cost

MOIC minister highlights challenges and efforts in achieving sustainable infrastructure development

Wed, 17 Apr 2024 - 02:49 GMT

Rania Al-Mashat, emphasized the crucial role of sustainable infrastructure in driving economic and social progress worldwide. However, she acknowledged the significant gap between the current global infrastructure needs and the projected spending by 2030, estimated at $15 trillion

Climate funding must not overlook poverty eradication and shared prosperity goals: Al-Mashat

Wed, 17 Apr 2024 - 11:14 GMT

Al-Mashat called for a focus on supporting project structuring and bankability and addressed the G24 Governors

Minister of International Cooperation highlights World Bank's role in development financing

Tue, 16 Apr 2024 - 01:56 GMT

The Minister also discussed topics including the development policy financing program, cooperation in various fields such as attracting foreign investment and promoting industrial development, and support for social protection initiatives

PlanningMin leads global economic discussions at 2024 World Bank and IMF meetings

Tue, 16 Apr 2024 - 12:58 GMT

Her participation in these meetings aims to address global challenges by exploring various financing solutions, fostering private-sector investments, and enhancing resilience against future disruptions.

Rania Al-Mashat participates at World Bank, IMF 2024 Spring Meetings in Washington D.C.

Mon, 15 Apr 2024 - 02:23 GMT

The Spring Meetings will include government officials from various countries of the world, and country governors at the World Bank Group, in addition to private sector companies, civil society organizations, academics, and other relevant entities, to discuss international efforts towards enhancing cooperation to achieve sustainable development and poverty eradication.

World Bank's $6 Billion Financing Boosts Egypt's Economic Reform Agenda

Tue, 19 Mar 2024 - 08:27 GMT

Egyptian PM lauds EU partnership, World Bank financing in bolstering economic reforms and stability.

World Bank to provide over $6B in support to Egypt over next 3 years

Mon, 18 Mar 2024 - 02:37 GMT

This support includes $3 billion for financial backing to Government’s programs and $3 billion for the private sector (including mobilization) – subject to Board approval.

No intention to issue bonds till end of current fiscal year: Finance Minister

Sun, 10 Mar 2024 - 04:46 GMT

Maait also stated that Egypt will obtain new $3 billion from the World Bank during the coming period pointing out that this amount is part of a total package worth $20 billion from several international partners

FULL COVERAGE | IMF Agreement Marks Milestone for Egypt's Economic Revitalization

Wed, 06 Mar 2024 - 07:37 GMT

Prime Minister Madbouly emphasized that the private sector creates more job opportunities and encourages investment in the Egyptian economy.

World Bank investments in Egypt amounts to $26B across 175 projects

Mon, 12 Feb 2024 - 11:29 GMT

Over the years, the bank has financed 175 projects in various sectors, such as infrastructure, human capital, and public sector reforms

Egypt's GDP Growth forecast revised to 3.5% for FY23/24: World Bank

Wed, 10 Jan 2024 - 12:33 GMT

This marks a revision from the bank's previous forecast of 4 percent for the same period.

Evaluating Egypt’s economic growth potential through the eyes of International Institutions

Sun, 31 Dec 2023 - 07:11 GMT

From Fitch Solutions’ most optimistic view of Egypt’s growth to the lowered expectations of the IIF, a diverse range of forecasts paints a complex picture of the country’s potential growth in the coming year as the country faces numerous external geopolitical and economic shocks.

Egypt received 15% less remittances annually in 2023, World Bank

Thu, 21 Dec 2023 - 11:32 GMT

The WB’s report highlighted that the MENA region’s remittances are projected to fall by 5.3% to approximately $61 billion in 2023, following a 4.5% drop in 2022

Egypt and World Bank partner to advance climate-smart agriculture in country

Mon, 11 Dec 2023 - 01:20 GMT

The new initiative seeks to develop innovative digital applications tailored to serve Egypt's agricultural sector and extend its impact on regional activities, particularly in Africa