CAIRO – 23 December 2024: Egypt’s Minister of Planning, Economic Development, and International Cooperation, Rania Al-Mashat, met with Stefan Goebert, the Regional Director of the World Bank for Egypt, Yemen, and Djibouti, to discuss ongoing partnerships and explore future collaboration opportunities aimed at fostering economic growth and creating employment.
During the meeting, Al-Mashat emphasized the World Bank Group’s vital role as a strategic partner in advancing Egypt’s economic priorities. She acknowledged the bank’s substantial contributions across sectors such as education, healthcare, transportation, social protection, housing, and private sector development. Al-Mashat expressed her appreciation for the achievements made through this partnership and voiced enthusiasm about potential projects aligned with Egypt’s development objectives.
The discussions included a review of ongoing projects within the World Bank’s portfolio, which encompass initiatives in education, food security, healthcare, sustainable sanitation, and comprehensive health insurance. The two sides also explored proposed future projects, including development policy financing, innovative funding mechanisms, and initiatives supporting the Small, Medium, and Micro Enterprises Development Agency. The talks further extended to collaborative strategies and reports, such as the Growth and Jobs Report and the Foreign Direct Investment Strategy, both of which aim to enhance Egypt’s business environment and attract more foreign investment.
Al-Mashat also outlined progress achieved under the Egypt-World Bank Strategic Partnership Framework (2023-2027), launched last year. This framework focuses on three main priorities: improving the business climate to encourage investment and private sector participation, enhancing investment in human capital, and strengthening resilience through improved macroeconomic management and support for green transformation. Foundational elements, including governance, citizen engagement, and women’s empowerment, underpin these goals.
The minister referenced her recent participation in a workshop organized by the World Bank’s Multilateral Investment Guarantee Agency. The workshop, titled *“Enhancing FDI in Egypt through World Bank Guarantees,”* introduced the Unified Guarantee Platform, which aims to streamline services for public and private sectors, mobilize investments, and provide innovative financing tools.
Al-Mashat concluded by reaffirming Egypt’s commitment to strengthening its partnership with the World Bank. With a focus on fostering innovation, advancing green development, and investing in human capital, the collaboration is set to support sustainable economic growth and contribute to Egypt’s comprehensive development agenda.
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