Minister of Planning, Economic Development and International Cooperation Continues Participation in the Spring Meetings of the International Monetary Fund and the World Bank Group in Washington

 

 

"Al-Mashat" Participates in Multiple Events to Discuss the Future of Global Growth, Promote the Transition to a Green Economy, and the Future of Jobs

 

 

H.E. Dr. Rania A. Al-Mashat, Minister of Planning, Economic Development and International Cooperation and Egypt's Governor at the World Bank Group, continued her participation in the Spring Meetings of the International Monetary Fund and the World Bank Group, held in Washington, USA, under the theme "Jobs: The Path to Prosperity."

 

Mobilizing Climate Finance and the Future of Jobs

 

Dr. Rania Al-Mashat participated in a panel discussion entitled "Investing in the Future: Mobilizing Finance for Jobs and Skills in the Climate Transition," which discussed the role of climate action in driving technological progress, reducing risks, and enhancing economic efficiency.

 

During her speech at the session, H.E. Dr. Rania Al-Mashat highlighted Egypt's comprehensive National Climate Change Strategy (NCCS) 2050, which represents a roadmap for addressing Egypt's most prominent climate challenges.

This strategy includes several priority projects across key sectors such as energy, food, and water, all of which are essential for building resilience to climate change.

 

H.E. Minister Al-Mashat pointed out that through this strategy, we not only aim to mitigate the impacts of climate change but also work towards achieving a just and equitable transition towards a green economy, an economy that leaves no one behind.

 

H.E. Dr. Al-Mashat affirmed that the National Investment Plan aims to support the implementation of the NCCS by directing public investments towards projects aimed at mitigating and adapting to the effects of climate change. These projects encompass multiple sectors, such as infrastructure, renewable energy, sustainable agriculture, and water resource management.

 

H.E. Minister Al-Mashat noted that environmental impact is part of the project selection criteria, in addition to providing a comprehensive feasibility study that includes economic, social, and environmental aspects to ensure that all submitted projects are compatible with the SDGs and achieve added value for the national economy while preserving the environment.

 

H.E. Dr. Al-Mashat also pointed to the importance of the Country Platform for the "NWFE" program, launched by Egypt during COP27, in light of the implementation of the NCCS 2050. It presents an integrated approach to just financing for the climate agenda, focusing on three main sectors: energy, food, and water, through the implementation of projects in the fields of mitigation and adaptation to climate change.

The program contributes to mobilizing innovative and blended financing instruments, debt swaps, development grants, and technical support, thereby advancing green transition efforts in Egypt. The platform also represents a constructive model for encouraging private sector investments through the implementation of mitigation and adaptation projects, which have contributed to providing numerous job opportunities.

 

The Future of Growth

 

The Minister of Planning, Economic Development and International Cooperation and Egypt's Governor at the WB Group also participated in a session of the World Economic Forum on the "Future of Growth" initiative, with the participation of Prof. Maurice Obstfeld, Senior Fellow at the Peterson Institute for International Economics, Ms. Saadia Zahidi, Managing Director at the World Economic Forum, and Prof. Eswar Prasad, Professor of Trade Policy at Cornell University, within the framework of the World Bank's Spring Meetings in Washington.

 

During her speech at the session, H.E. Dr. Rania Al-Mashat highlighted the close cooperation with the World Bank Group, particularly given its role as a knowledge bank, and the ongoing collaboration with the Ministry of Planning, Economic Development and International Cooperation, in coordination with various ministries and national entities, to prepare the national narrative for economic development. This narrative analyzes and diagnoses the situation of the Egyptian economy and develops targeted recommendations and policies regarding the most priority sectors, particularly industry, exports, foreign direct investment, and macroeconomic policies.

 

H.E. Dr. Al-Mashat reviewed the framework of sustainability and financing for economic development, through which the Ministry seeks to achieve economic development by focusing on priority sectors, foremost of which are human development, industrial development, infrastructure, foreign direct investment, and entrepreneurship. It works to enhance these efforts through macroeconomic stability and structural reforms.

 

 

H.E. Dr. Al-Mashat outlined that the government is working to achieve quality growth by promoting sustainable investments and green growth, enhancing the participation of the private sector as a key driver for achieving quality growth, promoting entrepreneurship, technology, and innovation, and using data and formulating evidence-based policies.

 

H.E. Minister Al-Mashat referred to the letter of intent with the World Economic Forum to launch the "Catalyst for Economic Growth and Development," emphasizing that it enables Egypt to join the "Future of Growth" initiative launched by the World Economic Forum last year.

 

This initiative aims to reshape global growth and support decision-makers in different countries to achieve a balance between quantitative and qualitative growth. She added that this step supports Egypt's efforts to achieve economic development and benefit from the insights and ideas derived from the Center for the New Economy and Society of the World Economic Forum.

 

 

The Future of Global Humanitarian Action

 

On another front, the Minister of Planning, Economic Development and International Cooperation and Egypt's Governor at the World Bank Group participated in a session held by the think tank "ODI" under the title: "The Future of Global Humanitarian Action."

 

The session was moderated by Elizabeth Campbell, Executive Director of the ODI Group, with the participation of Freddie Carver, Director of Programmes and the Humanitarian Policy Group at the Institute, Jake Cusack, Co-founder and Managing Partner at CrossBoundary Energy, James Richardson, Executive Chairman of the Pompeo Foundation Board, Kate Phillips-Barrasso, Vice President of Global Policy and Advocacy at Mercy Corps, and Ketleen Florestal, Minister of Planning and External Cooperation of Haiti.

 

The session included a focused discussion on the future, tools, and methods needed to bring investment, markets, and opportunities, especially to the people most affected by conflicts and tensions worldwide, and how to shape this change. This comes after the United Nations called for a "major reset of humanitarian action," as despite the long-recognized need for reform, progress has been negligible even after the commitments made at the 2016 World Humanitarian Summit.

 

It is worth noting that the session was part of a series of discussions held by the Overseas Development Institute (ODI Global) in Washington D.C. during the week of the 2025 Spring Meetings of the World Bank and the International Monetary Fund.