Minister of Planning, Economic Development and International Cooperation Meets World Bank’s MENA Practice Manager for Economic Policy to Discuss Joint Cooperation Files

H.E. Dr. Rania A. Al-Mashat, Minister of Planning, Economic Development and International Cooperation, met with Ms. Jasmin Chakeri, the World Bank’s MENA Practice Manager for Economic Policy, Mr. Stephan Guimbert, the World Bank’s Country Director for Egypt, Yemen, and Djibouti, and their accompanying delegation.

The meeting focused on key areas of joint cooperation, including the recent launch of “Egypt’s Narrative for Economic Development: Reforms for Growth, Jobs & Resilience”, progress on the upcoming Public Finance Review, the Development Policy Financing Program, and updates on the economic reforms currently being implemented by the Egyptian government.

During the meeting, Dr. Al-Mashat congratulated Ms. Chakeri on her new appointment, expressing her best wishes for success in strengthening cooperation and advancing Egypt–World Bank relations.

Dr. Al-Mashat emphasized the depth of the partnership between the Egyptian government and the World Bank, underscoring Egypt’s commitment to expanding joint cooperation across diverse fields in line with the state’s efforts to promote sustainable and green infrastructure development. She highlighted the breadth of projects underway in collaboration with the World Bank, particularly in vital sectors such as transport, renewable energy, and infrastructure.

The Minister reviewed the pillars of “Egypt’s Narrative for Economic Development: Reforms for Growth, Jobs & Resilience”, launched by the government last week. This comprehensive framework integrates the government’s action plan for 2024/2025–2026/2027 with Egypt’s Vision 2030, responding to rapid regional and global changes. Its objective is to transition toward an economic model anchored in macroeconomic stability, with a greater focus on high-productivity and export-oriented sectors (tradables). It builds on Egypt’s advanced infrastructure, redefines the state’s role in the economy, enhances competitiveness, and stimulates greater private sector participation—continuing Egypt’s ongoing economic reform path.

Dr. Al-Mashat reiterated that the narrative aims to maximize the benefits of Egypt’s developed infrastructure as a platform for industrialization and investment. A key pillar of the framework is redefining the state’s role in the economy to create more space for private sector-led growth and encourage investment in high-value sectors.

The meeting also covered preparations for the upcoming Public Finance Review, emphasizing the importance of coordination among all relevant government entities to ensure its successful implementation.

Dr. Al-Mashat noted that Egypt continues to navigate a challenging global economic environment by maintaining flexibility through targeted reforms that safeguard macroeconomic stability and growth prospects. She affirmed the government’s commitment to fiscal discipline, debt sustainability, exchange rate flexibility, and the expansion of social protection programs to mitigate inflationary pressures.

The Minister also stressed that Egypt prioritizes private sector-led growth, export expansion, and green transition investments as key drivers of competitiveness and foreign direct investment (FDI) attraction. She added that the government’s national structural reform program is designed to enhance competitiveness, improve the investment climate, and shift the economic focus toward tradable and export-oriented sectors, building greater resilience and long-term sustainability.