World Bank finances 14 projects worth US$ 6.9 billion in Egypt

A team from the World Bank Group presented the development of its current portfolio of developmental cooperation with Egypt, which includes 14 projects worth US$6.9 billion.

It detailed them according to the new 2023-2027 Country Strategy and discussed their implementation.

These projects involve the sectors of education, health, sustainable infrastructure, social protection, social housing, local development, the financial sector, and the environment.

Minister of International Cooperation Rania al-Mashat and Governor of Egypt at the World Bank Group held an expanded workshop with the World Bank office in Egypt, to follow up on the implementation of ongoing projects in light of joint relations with the World Bank within the 2023-2027 Country Strategy.

The discussions included enhancing coordination with periodic World Bank missions regarding the evaluation of ongoing projects, discussing preparations for the bank’s annual meetings, and a roadmap for furthering the World Bank’s role.

International partnerships between Egypt and the World Bank Group, one of the most prominent multilateral development partners, play a vital role in enhancing Egypt’s development vision and national priorities in various fields, Mashat stressed.

This is especially true in enhancing investment in human capital, developing sustainable infrastructure, and empowering the private sector, she said.

These partnerships include preparing diagnostic reports in areas of common interest such as climate and development, a public expenditure review, and demographics.

Mashat explained that the results of these reports should be translated into implementable projects to achieve the optimal benefits.

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