Minister of Planning, Economic Development and International Cooperation and Egypt’s Governor at the World Bank Group Rania al-Mashat discussed with Indermit Gill, Chief Economist and Senior Vice President for Development Economics at the World Bank, cooperation efforts to enhance economic development in Egypt by leveraging the World Bank’s global expertise and capabilities.
They also talked about how the bank can assist Egypt to provide solutions for the challenges of job creation, stimulate growth and employment, and achieve sustainable economic development.
The discussions took place during a series of intensive meetings held by Mashat with senior World Bank officials at the start of her participation in the Spring Meetings of the World Bank Group and the International Monetary Fund in Washington. The meetings reflect the strong relationship between Egypt and the World Bank, which is one of the largest multilateral development banks operating in the country, currently managing about 21.8 percent of Egypt’s active development cooperation portfolio.
Mashat expressed gratitude to the World Bank for its constructive cooperation in developing Egypt’s national economic development narrative. This narrative, she said, will serve as a roadmap for achieving development and advancing economic and structural reforms in Egypt.
The minister noted Egypt’s inclusion in the World Bank’s “Business Ready” report and the formation of a national committee to prepare for it, as the report is a key tool for evaluating the business environment, improving the investment climate, and enhancing Egypt’s economic competitiveness both regionally and globally.
She emphasized the government’s efforts to boost exports and enhance Egypt’s competitiveness on regional and global levels, highlighting the importance of data-driven, evidence-based decision-making.
Gill noted that the World Bank is working on a regional report on artificial intelligence, which includes Egypt.
