04:33 PM
Sunday, January 29, 2023
Books – Mustafa Eid:
Dr. Rania Al-Mashat, Minister of International Cooperation, discussed with Nader Mohamed, Regional Director for Equitable Growth, Finance and Institutions at the World Bank Group, and Marina Wes, Regional Director for Egypt, Yemen and Djibouti at the Bank, future development cooperation programs with the World Bank Group to stimulate the green transition.
According to a statement from the Ministry of International Cooperation today, Sunday, the two sides discussed efforts to stimulate the participation of the private sector in development through various mechanisms, and discussed preparations for launching the new joint national strategy CPF.
The Minister of International Cooperation discussed with the World Bank the measures and efforts undertaken by the Egyptian state to enhance resilience, green transformation and gender equality.
The meeting also touched on mechanisms and tools for stimulating the private sector and stimulating the investment environment, in a way that enhances productivity, as well as the report to be prepared between Egypt and the World Bank on strengthening the role of the private sector in development and improving the efficiency of investments, and monitoring macroeconomic policies and measures taken to push efforts to mitigate and adapt to the repercussions of changes. climate, according to the statement.
In the same context, Al-Mashat discussed with the World Bank Group developments in preparing the joint country strategy between the two sides for the period 2023-2027, which will represent a new chapter of constructive cooperation between the government and the World Bank Group, according to the statement.
The Ministry of International Cooperation said that the joint Qatari strategy is being prepared in the light of main axes and objectives, which are developing the work environment, enhancing the role of the private sector in development and job creation, pushing investment in human capital, and strengthening cooperation in the fields of green transformation, especially at the level of adaptation projects and mitigating the repercussions of changes. Climate, and the promotion of efforts to achieve comprehensive and sustainable growth.
She added that the axes of the strategy will be formulated according to three priorities: governance, regional integration, and promotion of gender equality.
The ongoing portfolio of development cooperation between Egypt and the World Bank includes 14 projects worth about $7 billion, distributed in several priority development sectors for the country, in addition to 23 projects for technical and advisory support and capacity building, according to the statement.
This comes in addition to joint efforts to enhance private sector participation in development through relations with the International Finance Corporation and the International Investment Guarantee Agency (MIGA), both members of the World Bank Group, according to the ministry.
