Ministry of Planning Economic Development and International Cooperation
The discussions focused on expanding the cooperation portfolio and exploring new areas aligned with Egypt's governmental priorities.
Al Mashat presented the country’s recent economic and structural reforms, emphasizing the government's efforts to strengthen macroeconomic stability, enhance the business environment, and build a competitive, investment-friendly economy.
Held on the sidelines of the WB annual meetings in Washington on Thursday, their meeting discussed private sector financing, capital market development, and restructuring the global financial system.
She noted that the capital increase would enhance the IFC’s ability to expand its support to private companies.
The minister reiterated the government’s commitment to implementing effective measures to support macroeconomic stability
Al-Mashat noted the historical significance of Egypt's partnership with the AfDB, pointing out that the country is a founding member and contributed approximately 12.5 percent of the bank's initial capital.
A key focus of the meeting was on entrepreneurship, with Al-Mashat introducing Egypt's new Entrepreneurship Taskforce, aimed at supporting startups and creating a favorable business environment for this dynamic sector
Highlighting the alarming rise in debt levels among developing nations, she explained that this was exacerbated by soaring debt servicing costs that limit fiscal space for achieving sustainable development goals
The Minister of Planning, Economic Development, and International Cooperation outlined the new operational framework following the merger of the two ministries, which aims for sustainable economic growth
On his first visit around the region since his appointment, Jalel Trabelsi, the Special Envoy of the African Development Bank (AfDB), praised Egypt's crucial role in advancing the continent's regional integration agenda and fostering trade and investment
Al Mashat spoke during a press conference earlier today to celebrate the government’s recent divestment from Tamweely Microfinance to an international consortium of investors
Al-Mashat emphasized the significant potential for economic, trade, and investment relations between the two countries, given their pivotal roles in the regional and global economy
Al Mashat noted the issue of financing gaps in development, advocating for blended finance approache that merge public and private investments and stressing that integrating multilateral development banks and governments is vital to advancing development goals
Al-Mashat emphasized the importance of enhancing international partnerships in industrial localization and human development as Egypt and Japan mark 70 years of diplomatic relations.
El-Khatib emphasized the importance of aligning efforts with global partners to expand productive and service sectors capable of generating financial returns
