Al-Mashat in US to prepare for Egypt’s participation in IMF Spring Meetings

Hagar Omran
2 Min Read
Rania Al-Mashat, Former Minister of Tourism and the current Minister of International Cooperation and Tourism

Minister of International Cooperation Rania Al-Mashat headed to Washington DC to prepare for Egypt’s participation in the Spring Meetings 2020 organised by the International Monetary Fund (IMF) and the World Bank Group (WBG), from 13 to 17 April, a ministerial Monday statement said.

Al-Mashat will meet with US Deputy Secretary of Treasury Justin Muzinich, US Deputy Secretary of Commerce Karen Dunn Kelley, Acting Director of US Trade and Development Agency Thomas R. Hardy, President and Chairperson of Export–Import Bank of the United States Kimberly A. Reed, the statement added.

She will also discuss with US and WBG senior officials deepening the joint partnership in line with the Egyptian government’s developmental priorities.

The visit agenda also includes meetings with the American Chamber of Commerce and the International Finance Corporation (IFC) as well as Congress officials in light of its recent decision that allocates $125m for Egypt in 2020.

In addition, Al-Mashat will meet with CEO of International Development Finance Corporation Adam Boehler to discuss increasing bilateral cooperation. WBG President David Malpass will also be reviewing the bank’s new strategy in Egypt.

Al-Mashat will also discuss the outcomes of the WBG board of directors’ recent visit to Egypt in January with WBG president deputies under the framework of continuous dialogue between the bank and Egypt.

Notably, the WBG’s portfolio in Egypt is estimated at $8bn, of which $5.8bn is provided by the International Bank for Reconstruction and Development, affiliated to the WBG, and the other $2.2bn from the IFC.

Share This Article