International cooperation minister heads for Washington

CAIRO - 24 February 2020: International Cooperation Minister Rania el Mashat headed for Washington on Monday on an official visit for talks with US administration and World Bank officials on the Egyptian government's priorities as regards credit cooperation with the US in the coming period.

The visit comes as part of the strategic partnership between Egypt and the US.

Mashat will hold talks with US Deputy Secretary of Treasury Justin Muzinich, Deputy Secretary of Commerce Karen Dunn Kelley in addition to a number of congressmen and US Chamber of Commerce officials.

She will also meet with acting director of the US Trade and Development Agency Tom Hardy and director of the US Export-Import Bank Kimberly A. Reed.

Talks are meant to boost economic and credit cooperation as part of the strategic partnership binding the two countries.

The two sides will tackle the US Congress's decision to allocate 125 million dollars to Egypt in 2020.

Mashat will meet with James Harmon, head of the Egyptian-American Enterprise Fund which is investing in several projects in Egypt.

She will also hold talks with president of the World Bank Group David Malpass and a number of his deputies to discuss the new strategy of cooperation between Egypt and the bank based on the Egyptian government's priorities.

The volume of cooperation portfolio between Egypt and the WB is estimated at 8 billion dollars distributed between the International Bank for Reconstruction and Development by about $5.8 billion, and the International Finance Corporation by investments of $2.2 billion in Egypt.