On Monday, Minister of Foreign Affairs Sameh Shokry met with Anna Bjerde, Director General of Operations at the World Bank, to address the humanitarian, economic, and political repercussions of the ongoing crises in the Gaza Strip and Sudan.
During the meeting, Minister Shokry presented Egypt’s stance on various regional issues, emphasizing the country’s proactive role in promoting peace and security. He also highlighted the economic reforms undertaken by Egypt, expressing a desire for increased support from the World Bank for the nation’s development efforts amid global and regional crises.
Minister Shokry outlined the significant economic reforms Egypt has implemented, underscoring the country’s commitment to achieving sustainable development. He appealed for the World Bank’s continued assistance to bolster these efforts, particularly in light of the challenging conditions currently facing the Middle East.
Minister of International Cooperation Rania al-Mashat announced in April that the World Bank is expected to disburse $1 billion to Egypt in the second half of 2024. This sum is part of a larger $6-billion funding commitment, which will be delivered over three years.
The $6-billion funding from the World Bank will be divided equally between governmental programs and the private sector. This strategic allocation aims to support both public sector initiatives and private sector growth, fostering comprehensive development across the country.
The discussions between Minister Shokry and Anna Bjerde reflect Egypt’s ongoing efforts to navigate regional crises while continuing to pursue economic growth and stability. The anticipated support from the World Bank will play a crucial role in advancing Egypt’s development agenda, benefiting both the public and private sectors amidst a backdrop of regional and global challenges.
