Rania Al Mashat
Minister of International Cooperation, Rania Al-Mashat, emphasized that Egypt is fully committed to providing the necessary support and facilities to ensure the success of these gatherings, in line with the organization's stature
This investment has positioned Egypt as one of the top countries where the IFC operates. Additionally, the IFC has provided advisory services worth $34 million to support Egypt's economic development.
The mission's agenda also includes meetings with various national entities, such as the Ministries of Environment, Electricity, Labor, Planning, Trade and Industry, and the Central Bank of Egypt.
El-Sisi emphasized the summit's significance in reminding us of Africa's collective destiny and its potential for development.
This summit acts as a platform for discussing the goals of the African continent in collaboration with the IDA, an organization affiliated with the World Bank that is renowned for providing low-interest financing and grants on a global scale.
However, developing and emerging countries received only 13% of these funds, while the countries of the Global South received a mere 2%
The event, titled "Global Collaboration, Growth and Energy for Development," will take place on April 28 and 29. Over 1,000 participants from governments, the private sector, and international institutions are expected to attend.
Minister Al-Mashat emphasized the urgent need to address this imbalance and stressed the importance of fostering partnerships between multilateral development banks to rectify the situation
This contribution is a significant part of Egypt's efforts to secure a total of $57 billion in funding from various global institutions and regional allies, aimed at bolstering the country's economy.
During her presentation, Minister Al-Mashat highlighted the distinction between short-term economic stability policies and long-term structural reforms
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
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
Al-Mashat highlighted the potential of debt swaps to enhance countries' fiscal capacity, enabling them to expand investments in climate action
Al-Mashat called for a focus on supporting project structuring and bankability and addressed the G24 Governors
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
During the meeting, Minister Al Mashat expressed Egypt's gratitude for the ongoing cooperation with JICA, highlighting the alignment of visions and the commitment to strengthening joint efforts
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.
Minister of International Cooperation (MoIC), Rania Al-Mashat, said that during the graduation ceremony of 20 promising startup ventures from the sixth group of the Orange Corners program.
The purpose of this collaboration is to facilitate the completion of the third phase of the Al Gabal Al Asfar wastewater Treatment Plant.
During the meeting, they also discussed joint work in the field of food security and enhancing agricultural investment in Africa, in addition to various development fields
