13 June 2024 03:03 AM

Al-Mashat, WB Group to discuss developments in “Climate-Friendly Agricultural Transformation” project

Friday، 24 May 2024 - 06:42 PM

Minister of International Cooperation and Governor of Egypt at the World Bank Group Rania Al-Mashat,  met with Vice President of the World Bank Group for the Middle East and North Africa Mr. Othman Diouni, on the sidelines of the annual meetings of Arab financial authorities and institutions for the year 2024.

The meeting was attended by Director the World Bank’s Regional Director for Egypt Mr. Stephane Gumpert, Executive Director of the World Bank Group Mr. Abdulaziz Al-Mulla, Regional Director for North Africa for the International Finance Corporation Mr. Sheikh Omar Sylla, and Chief Economist at the World Bank’s country office in Egypt Mr. Mark Ahern.

The Minister of International Cooperation welcomed the delegation of the World Bank Group, participating in the annual meetings of Arab financial institutions, and participating in the meetings in the capacity of observer.

Al-Mashat followed up on the cooperation programs being implemented with the World Bank Group, supporting the economic and structural reforms implemented by the state to enhance macroeconomic stability. Rania Al-Mashat stressed the government’s keenness to move forward with economic reform measures that would increase the empowerment of the private sector and stimulate the process of growth and overcoming. 

The minister said that the development program, funded by the World Bank and other development partners, includes many important axes related to enhancing competitiveness, improving the business environment, building the capacity of public finances to withstand shocks, and supporting green transformation.

The meeting also witnessed the follow-up of technical discussions on the Climate Adapted Agricultural Food Transformation (CRAFT) project, within the “Novi” program, which resulted from the merger of the two projects on adapting crop production in the Nile Valley and the Delta and the project on establishing early warning systems.

In this regard, the Minister of International Cooperation explained the role played by the World Bank as a leading technical partner in implementing the CRAFT project, which achieves many development impacts.

In a related context, the Minister of International Cooperation thanked the World Bank for the cooperation and technical support with national authorities to. prepare a draft law regulating state ownership in state-owned companies, which comes in light of the state’s efforts to implement the objectives of the state ownership policy document, governance of economic activities, and empowering the private sector.

Ministry of International Cooperation

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