Minister of International Cooperation Rania Al-Mashat held an expanded meeting between representatives of the Egyptian government and the World Bank (WB) to discuss preparations for a strategic partnership framework between Egypt and the World Bank for the period from 2023 to 2027.
This is being conducted within the framework of the directives of President Abdel Fattah Al-Sisi to make the most of development cooperation with partners.
The meeting was attended by the Ministers of Environment and Education, and a number of deputies, assistants, and senior officials from about 20 national authorities, including the ministries of higher education and scientific research, health, irrigation, agriculture, social solidarity, local development, and the National Council for Women.
On the WB’s side, the meeting was attended by Marina Weiss — the Regional Director of the World Bank for Egypt, Yemen, and Djibout — WB officials, and the acting country director of the International Finance Corporation.
This meeting comes within the framework of a series of consultative meetings that are being organised in coordination and cooperation between the Ministry of International Cooperation and the WB with each of the national authorities, the private sector, research centres and institutions, and NGOs within the framework of strategic preparations.
In her opening speech, Al-Mashat emphasised the strategic relationship between Egypt and the WB, mentioning that the portfolio of ongoing partnerships with the bank is diversified in many priority development sectors for the state to support the 2030 Agenda for Sustainable Development.
She indicated that the preparation of the new 2023-2027 strategic partnership framework comes at a pivotal time in which Egypt is working to promote comprehensive and sustainable growth and recovery from the effects of the coronavirus pandemic as well as facing the urgent global challenges facing all countries, and its quest to move forward towards achieving its development vision through major national projects and presidential initiatives, foremost of which is the Decent Life Presidential Initiative.
This is in addition to its readiness to host the UN Conference of Parties on Climate Change (COP 27) in Sharm El-Sheikh this November, which requires strengthening multilateral cooperation and achieving effective communication with all relevant parties to accelerate the pace of achieving sustainable development.
The minister added that the new strategic partnership framework aims to stimulate job growth in the private sector, improve inclusion outcomes and human capital, improve resilience in the face of shocks, enhance governance and regional integration, and empower women as a priority at the level of all sectors. She noted that governmental work teams are working continuously with the WB to finalise the draft of the new strategy this year.
Next, the WB’s delegation gave a presentation on the preparation of the new partnership framework between Egypt and the WB, during which they explained the results of the preparation stages for the new partnership, the recommendations of the diagnostic and methodological studies that were implemented, and the climate and development report for Egypt that is expected to be prepared and launched during the current year with the aim of identifying gaps at the market, policy, and institutional level that may present a challenge in Egypt’s efforts to transition to a green economy.
The presentation also included the government priorities targeted by the new partnership with the WB at the level of diversifying the structure of the economy, strengthening the business environment, stimulating the private sector, investing in human capital, improving financial inclusion, and strengthening governance, which will be reflected in the goals of the new framework, thus contributing to achieving progress towards implementing the 2030 Sustainable Development Goals and the 2050 National Climate Change Strategy.
For her part, Weiss said that the bank is keen on a strong partnership with the Egyptian government to contribute to supporting development efforts and facing the challenges that prevent this, pointing out that the bank is looking forward to a new partnership that enhances the government’s goals for transformation to a green economy through the financial and technical support provided by the WB.