Minister Rania Al-Mashat Holds Series of Meetings with Leaders of International Financial Institutions, Government Representatives, Think Tanks, and Investors to Present Developments in the Egyptian Economy and Strengthen Joint Economic Relations
Over the course of a week, the Minister of Planning, Economic Development and International Cooperation held intensive meetings and participated in high-level international events, including the meeting of the Intergovernmental Group24 on International Monetary Affairs and Development, the meeting of the International Development Committee, and the meeting of the African Caucus with the President of the World Bank, in addition to other bilateral meetings.
The meetings witnessed comprehensive discussions with Mr. Ajay Banga, President of the World Bank Group, and the Bank's affiliated institutions, notably the International Finance Corporation (IFC), where H.E. Dr. Al-Mashat met with Mr. Makhtar Diop, Managing Director of the IFC, the World Bank's arm for private sector financing, as well as officials from the Multilateral Investment Guarantee Agency (MIGA).
These meetings addressed the developments in the implementation of various joint work files to enhance private sector participation in development efforts, stimulate the investment climate in vital sectors, and support the government's efforts in implementing the State Ownership Policy Document.
The meetings aimed to expand the scope of guarantees available in the Egyptian market and increase financing mechanisms for the private sector, in line with Egypt's vision to increase foreign direct investment and achieve sustainable growth.
H.E. Dr. Al-Mashat was keen to present Egypt's development vision and the positive indicators in the Egyptian economy, as well as the state's endeavor to shift towards tradable, commercial, and export-oriented sectors.
H.E. Dr. Al-Mashat held an extensive meeting with the Jefferies Group and a large number of international investors to present the most prominent indicators and developments in the Egyptian economy.
H.E. Minister Al-Mashat also presented the developments in the Egyptian economy and the results of the economic and structural reform program being implemented since March 2024.
The Minister held a meeting with Ms. Elena Flores, Director-General for Economic and Financial Affairs at the European Commission, to discuss the implementation procedures for the second tranche of the Macro-Financial Assistance (MFA).
H.E. Dr. Rania Al-Mashat participated in a keynote session organized by the World Bank Group on "Jobs: The Pathway to Prosperity," in the presence of Mr. Ajay Banga, President of the World Bank. She also participated in a panel discussion entitled "Investing in the Future: Mobilizing Finance for Jobs and Skills in a Climate Transition," which discussed the role of climate action in driving technological progress, reducing risks, and enhancing economic efficiency.
The meetings also included participation in a special event on social protection, entitled "Social Protection in the Middle East and North Africa Region: Lessons and Innovations to Protect People."
H.E. Dr. Rania Al-Mashat highlighted the Egyptian experience in implementing the pioneering social protection program "Takaful and Karama" over 10 years. This comes in light of the close partnership between the Arab Republic of Egypt and the World Bank Group, and the Bank's active role in financing many vital projects in various sectors, including social protection and infrastructure.
In the context of the meetings, H.E. Dr. Al-Mashat met with H.E. Tharman Shanmugaratnam, the President of the Republic of Singapore, where the meeting affirmed the strong relations between the Arab Republic of Egypt and the Republic of Singapore.
Distributed by APO Group on behalf of Ministry of Planning, Economic Development, and International Cooperation - Egypt.
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