World Bank
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.
Malpass pointed out that developing countries face difficult expectations regarding the rise in food, fertilizer and energy prices.
Egypt’s Ministry of International Cooperation reviewed, Monday within the 2022 International Monetary Fund and the World Bank Group annual meetings most Important aspects of the Development Cooperation between Egypt and the World Bank Group.
Planning and Economic Development Minister Hala el Saeed said in statements Monday that the global governance indicators measure the quality of governance for more than 200 countries.
This project will strengthen the railway network in Egypt, one of the largest railway networks in the African continent; enhancing the country’s green transition and move towards low carbon emissions.
He cited ventures in the areas of Bahr el Baqr, Hammam, Mahsama.
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.
