Ahmed Rostom, Minister of Planning and Economic Development, met with senior officials from international financial institutions in Washington on the sidelines of his participation in the IMF-World Bank Spring Meetings. He was accompanied by a high-level government delegation, including Hussein Eissa, Deputy Prime Minister for Economic Affairs; Badr Abdelatty, Minister of Foreign Affairs, International Cooperation and Egyptian Expatriates; and Mohamed Farid, Minister of Investment and Foreign Trade.
The minister held talks with Makhtar Diop, Managing Director of the International Finance Corporation (IFC), expressing appreciation for the institution’s role in supporting and empowering Egypt’s private sector in priority areas such as renewable energy, green hydrogen, mining, infrastructure and healthcare.
Rostom noted that the Egyptian economy has demonstrated resilience amid regional geopolitical tensions, supported by economic and monetary reforms implemented in recent years, including the adoption of a flexible exchange rate system. He reaffirmed the government’s commitment to continuing its reform programme to achieve inclusive and sustainable growth, while improving the efficiency of financial and economic resource management.
For his part, Diop praised the partnership with Egypt and reaffirmed the IFC’s commitment to supporting national development efforts through financing and technical expertise for the private sector. He described Egypt as one of the region’s most promising markets.
Diop added that the coming phase will see expanded cooperation in infrastructure and key growth sectors, including tourism, financial services and clean energy, in support of sustainable development and increased investment opportunities. He noted that collaboration with both the government and private sector has led to the implementation of innovative projects that promote economic growth and support the transition to a more sustainable economy.
The minister also met with Ousmane Dione, Vice President of the World Bank for the Middle East and North Africa. He expressed appreciation for the World Bank President’s recent visit to Egypt in March, stressing the importance of building on its outcomes to strengthen cooperation, particularly in priority sectors such as healthcare, water resource management, tourism, food security and agriculture.
Discussions also covered opportunities to expand the World Bank’s technical support across several vital areas, including the development of a comprehensive national innovation and artificial intelligence system, promotion of the Suez Canal Economic Zone, improving energy efficiency, upgrading ports, and advancing industrial localisation.
Dione commended ongoing cooperation with Egypt and the government’s measures to address the economic repercussions of current global challenges. He affirmed the Bank’s readiness to provide further support, particularly in tourism, innovative financing and renewable energy, contributing to job creation and strengthening the role of the private sector.
Rostom also met with Tsutomu Yamamoto, Managing Director of the Multilateral Investment Guarantee Agency (MIGA). He expressed appreciation for the agency’s role in supporting Egypt’s investment climate, noting that its guarantees have helped boost investor confidence, particularly in strategic sectors such as renewable energy and banking.
He stressed that empowering the private sector remains a top government priority as the main driver of economic growth. The state, he said, is working to create a more attractive investment environment through a comprehensive package of reforms, including tax and customs incentives, streamlined procedures through digital transformation, and an improved legislative framework to ensure transparency and a level playing field.
Yamamoto, in turn, welcomed ongoing cooperation with Egypt, particularly in renewable energy, manufacturing, infrastructure and financial services, and reaffirmed MIGA’s commitment to strengthening collaboration in support of Egypt’s investment environment in the period ahead.
