17 February 2020 05:14 PM

Egypt, WB consider cooperation strategy

Friday، 17 January 2020 - 01:50 PM

International Cooperation Minister Rania el Mashat discussed with a high-profile delegation of the executive directors of the World Bank (WB) the economic reform program that the Egyptian government has adopted during the period from 2016 to 2019.

Mashat and the visiting delegation tackled the new cooperation strategy between Egypt and the WB in light of the Egyptian government's priorities as well as the structural and legislative reforms that the government will undertake to further empower the private sector and boost investment in human capital, mainly in health, education and social protection sectors.

This is the first visit for the delegation since 2014.

The minister asserted Egypt's keenness to continue dialogue and coordination with the WB and foster fruitful relations between both sides in a way that goes in line with the Egyptian government's priorities and supports the State's development efforts.

Mashat said that her ministry has prepared a new study on the Global Partnership for Effective Development Cooperation which is considered as a multi-stakeholder platform to advance the effectiveness of development efforts by all actors including the WB.

The WB delegation said that Egypt has achieved one of the highest GDP growth rates in the world, a fact that reflects the increasing international confidence in the Egyptian economy.

The delegation asserted the bank's keenness on boosting cooperation frameworks with Egypt and backing the new development projects as part of the partnership between both sides.

MENA

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