Minister of International Cooperation Rania el Mashat conferred on Sunday 20/6/2021 with Regional Manager of the World Bank section of Egypt Marina Weis on future cooperation domains with the World Bank group, the projects under construction as well as current negotiations as part of funding to development policies carried out by the Egyptian government.
The meeting comes as part of the periodical meetings held by Mashat with multiparty development partners with the aim of boosting the national development march in line with the sustainable development objectives for 2030.
The meeting addressed current projects under construction between Egypt and the World Bank. The World Bank has approved in March a funding worth dlrs 440 million to support Egypt’s infrastructure for the transport sector so as to enhance sustainability of the progress in the railway sector.
The two sides also addressed current talks with the World Bank group to obtain a finance for the second wave of the structural reforms carried out by the Egyptian government to support its economic growth program.
During the meeting, Mashat praised the successful partnership between Egypt and the World Bank group, noting that the development funding agreements signed with the WB in 2020 hit dlrs 1.5 billion covering the various sectors.
Meanwhile, Weis commended the level of cooperation with Egypt, considering Cairo as a strategic partner. She voiced hope over beefing up cooperation to support the development plans in the coming phase. She also highlighted the role of the international cooperation ministry in coordinating among the various governmental bodies to accomplish an effective development cooperation program.
The value of cooperation portfolio with the World Bank reached dlrs 5.4 billion in the various sectors including the micro, medium and small-scale projects, energy, rural development, social protection, transport, health, education, housing, among others.
Source: State Information Service Egypt