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The Minister of International Cooperation discusses with the Director of the World Bank the areas of future partnership


Dr. Rania Al-Mashat, Minister of International Cooperation, met with Marina Weiss, Regional Director for Egypt, Yemen and Djibouti at the World Bank, to discuss future areas of cooperation with the World Bank Group, projects under implementation, and ongoing negotiations within the framework of financing for development policies, in the context of the second wave of structural reforms that implemented by the government.

 

This comes within the framework of the periodic meetings held by Dr. Rania Al-Mashat, Minister of International Cooperation, with multilateral and bilateral development partners, to develop and strengthen economic relations between the Arab Republic of Egypt and its partners, in order to advance the national development agenda, which is consistent with the goals of sustainable development.

 

The meeting touched on discussing the projects being implemented within the framework of the strategic partnership between Egypt and the World Bank and those targeted to be implemented during the current year, as the World Bank approved last March a development financing of $440 million to support the state’s plan to develop the infrastructure of the transport sector and enhance its sustainability through the development of railways. Iron Egypt.

 

The meeting also discussed the developments of the ongoing negotiations with the World Bank Group on obtaining development policy financing to support the second wave of structural reforms that the government aims to implement to support economic growth, based on three factors: enhancing financial sustainability, green recovery, increasing private sector participation in development, and promoting the integration of women. in the economy.

 

Dr. Rania Al-Mashat, Minister of International Cooperation, praised the successful partnership between the Arab Republic of Egypt and the World Bank Group, which supports national efforts to achieve development in many areas, including transport, housing, utilities, environment, health and others, noting that the development financing agreements signed with the Bank International in 2020 amounted to 1.5 billion dollars for many sectors.

 

Al-Mashat referred to the Ministry of International Cooperation's endeavor to strengthen economic relations with multilateral and bilateral development partners, in a way that supports the implementation of Egypt's development vision 2030, and accelerates the implementation of the 2030 sustainable development goals, stressing that with only a decade remaining until 2030, there is an urgent need to maximize Economic relations and development cooperation with development partners to achieve these goals in a manner that achieves development and prosperity for citizens.

 

On her part, Marina Weiss, Regional Director for Egypt, Yemen and Djibouti at the World Bank, praised the cooperation with the Arab Republic of Egypt as a strategic partner, looking forward to more cooperation programs to support development plans. She also praised the role of the Ministry of International Cooperation in coordinating between various government agencies in order to complete effective development cooperation programmes.

 

It is worth noting that the ongoing cooperation portfolio with the World Bank amounts to $5.4 billion, in many sectors, namely small and medium enterprises, energy, rural development, social protection, transportation, health, education and housing. The current portfolio enhances the implementation of sustainable development goals, including the first goal to eradicate poverty, and the third goal. Good health and well-being, the fourth goal, quality education, and the fifth goal, gender equality.

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