Thursday 30 Jan
Dr. Rania Al-Mashat, Minister of Planning and Economic Development, met with a World Bank Group delegation, headed by Miski Burhani, Regional Director for Sustainable Development in the Middle East and North Africa at the World Bank.
The meeting was attended by Stephane Gimbert, Regional Director for Egypt and Yemen at the World Bank, Laurent Debreu, Sustainable Development Sector Officer in the Regional Office for Central Asia at the World Bank, and Maria Sarraf, Regional Director for Environmental Practices for the Middle East at the World Bank. During the meeting, ways to enhance cooperation were discussed, and the position of ongoing development cooperation projects between the two sides was discussed.
Al-Mashat stressed that Egypt and the World Bank share a strong relationship. The government aims to enhance cooperation with the bank across sectors, aligning with efforts to develop sustainable green infrastructure. Numerous projects are underway, particularly in transportation and renewable energy.
The government program focuses on creating a competitive
investment-friendly economy. The Ministry of Planning drives sustainable
economic growth by integrating local resources with international partnerships.
The ministry's new framework prioritizes 'qualitative
growth' and relies on data-driven policies, a future-proof economy, and
efficient resource allocation. Implementation involves diverse stakeholders and
strong national and international cooperation.
Both parties discussed ongoing cooperation, including
strategies for foreign direct investment, industrial development, and trade
promotion. These strategies, developed in collaboration with the bank, are
crucial for attracting investment, creating jobs, and supporting macroeconomic
stability.
Regarding ongoing and future projects with the World Bank, the
Minister highlighted current initiatives in the environmental sector, including
the Greater Cairo Air Pollution and Climate Change Management Project and
sanitation projects.
Future cooperation will focus on the blue economy, technical
support for national entities, and integrating environmental considerations
into national development plans to enhance sustainability and balance
development with climate action. The meeting addressed cooperation on the 'NWFE'
program, climate action, and low-carbon development.
Furthermore, discussions included collaboration between the
Ministry of Planning, Economic Development and International Cooperation, and
the Climate Investment Funds (CIF) to implement the Nature, People, and Climate
Initiative.
This includes following up on the 2024 mission's technical
discussions to prepare the CIF's "Investing in Nature, People, and Climate
(NPC)" initiative's executive plan. The aim is to leverage CIF funding for
projects related to the national 'NWFE' program.
The initiative is expected to focus on key areas, including climate-smart agriculture, agricultural businesses and financing, coastal ecosystem, and stimulating private sector participation as a common axis.
