Cairo, 8 May 2023 (TDI): The strategic partnership framework between the Arab Republic of Egypt and the World Bank Group was launched for the years 2023-2027.
The Prime Minister of Egypt, Mostafa Madbouly, was also present at the launch ceremony.
Ferid Belhaj, Vice President of the World Bank for the Middle East and North Africa, expressed his hopes for the success of this strategic partnership.
Dr. Rania A. Al-Mashat, the Minister of International Cooperation and Governor of Egypt, in her speech, shed light on the importance of the relationship between Egypt and the World Bank. She said that Egypt had been considered one of the founding members of the World Bank since 1945.
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Furthermore, the relations between Egypt and the World Bank have grown over the decades. The World Bank has become one of Egypt’s most important multilateral development partners.
She also highlighted the World Bank’s consistent contributions and efforts and mentioned the support of the World Bank for national development priorities in various fields.
The strategy focuses on three main objectives: investing in human capital, stimulating private sector participation and enhancing resilience to climate change.
The private sector can contribute to providing better private-sector jobs. In order to enhance the role of the private sector, an empowering environment must be supported where private sector-led investments could flourish. A level playing field would be absolutely necessary for the private sector.
The human capital outcomes could play an important role in supporting the provision of inclusivity, equitable and improved health and education services.
Whereas strengthened macroeconomic management will improve resilience to shocks. Also will positively affect climate change adaptation and mitigation measures.
