Dr. Mostafa Madbouly, Prime Minister, met yesterday evening, Monday, with Dr. Rania Al-Mashat, Minister of International Cooperation. Within the framework of following up on efforts to strengthen development partnerships with the World Bank Group at the level of projects already underway, as well as future partnerships in light of the close relations to advance sustainable development efforts; Whether at the level of technical support, development funding, as well as diagnostic studies.
The Minister of International Cooperation began the meeting by emphasizing the depth of relations between the government and the World Bank and their diversity in various development fields that serve the state’s priorities, and their importance in implementing many projects that directly benefit citizens, explaining that the current portfolio of development cooperation between the Egyptian state and the World Bank Group includes 14 projects worth $6.9 billion, in several areas including: education, health, transportation, social protection, renewable energy, water desalination, housing, local development, and the environment.
It is noteworthy that Egypt is one of the founding countries of the World Bank and the third largest shareholder in the Middle East and North Africa region, and the World Bank is one of Egypt’s most important development partners. It began supporting Egypt's development program in 1959. Since then, the World Bank has financed 175 projects in Egypt, totaling nearly $26 billion in many important sectors, including infrastructure, human capital and public sector reforms, and providing... Services and private sector development. These projects work to build institutions and achieve economic reforms and sustainable development, ensuring that future generations have the necessary tools for success and improving the quality of life for Egyptians.