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

CAIRO - 15 April 2024: Minister of International Cooperation and Governor of Egypt at the World Bank Group, Rania A. Al-Mashat began her participation in the 2024 World Bank and International Monetary Fund (IMF) 2024 Spring Meetings in Washington D.C. from April 15 to 20, discussing how to address global challenges in terms of  increasing the necessary financing solutions, encouraging private sector investments, and enhancing the ability to address future shocks.

 

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.

 

Al-Mashat said that the World Bank and IMF Spring Meetings are being held at a critical time when the world is facing intertwined and complex challenges, most notably geopolitical challenges, as well as climate change, and food security issues. 

 

This is among many other challenges that cast a shadow over the entire world, especially developing countries and emerging economies. This also necessitates the need to develop a clear global vision that can overcome poverty and strengthen the role of international financial institutions in supporting the efforts of developing and emerging countries to achieve development, confront challenges, and withstand shocks.

 

The Minister is also scheduled to participate in the ongoing discussions on the features and developments of the roadmap for development and reform of the World Bank, at the operational and financial levels, to enhance its role in addressing the current global situation and the development challenges facing member states, and to enhance their ability to be more resilient in the face of global shocks, stimulating shared prosperity, and confronting poverty, especially in developing countries and emerging economies. 

 

Al-Mashat also stressed the importance of developing the role of the World Bank for member states to increase the bank’s role in targeting development financing priorities and enhancing climate action.

 

During the Spring Meetings, the Minister will participate in many events, including Development Committee Plenary, the G24 Ministerial Meeting, and other high-level events, as well as the African Consultative Group with the World Bank President. 

 

In addition, she will present at many other events on debt swaps for climate action organized by the IMF and ESCWA, the Peterson Institute for International Economics Round Table on “Rethinking Economic Policy”, an Atlantic Council session on “Exploring Opportunities and Challenges for the Egyptian Economy”, and a World Economic Council session on private sector engagement in  climate action, and a meeting with Generation Unlimited. 

 

The Minister  will also hold extensive bilateral meetings with multilateral and bilateral development partners in light of the efforts undertaken by the Ministry to consolidate relations with the international community in a way that supports Egypt’s development vision.