We work together to enhance the private sector’s participation in the Egyptian economy for more sustainable growth.

- Thanks goes for the role of the World Bank in supporting economic reform programs in Egypt.

- We look forward to more support and cooperation with the World Bank in social protection, education, and comprehensive health insurance.

 

Dr. Mohamed Maait, Minister of Finance, asserted that Egyptian cooperation with the World Bank is a model of development partnership in facing global and regional economic challenges, and the related major negative repercussions, which represent severe pressure on the general budget of the State in light of high financing costs and the unprecedented increase in the prices of goods and services, especially with the country following restrictive policies, and the resulting rise in interest rates in an attempt to contain the sharp rates of inflation.

 

In his meeting with Anna Berdi, Director General of Operations at the World Bank, The Minister said: “We are keen to exchange visions with the World Bank in order to achieve more sustainable growth that relies on production and export. We are working together to enhance the participation of the private sector in the Egyptian economy, expressing his appreciation for the role of the World Bank in supporting the economic reform programs in Egypt, which became evident during the recent period and was reflected in the provision of development finances amounting to about 6 billion dollars over three years to deepen the role of the private sector in the economy, achieve macroeconomic and financial flexibility, and drive forward the “green growth” rates.

 

The Minister reviewed the current and future aspects of cooperation with the World Bank aiming at the development of the route of cooperation between the two sides, pointing out that: “We look forward to more support and cooperation with the World Bank in the sectors of social protection, education, health and comprehensive health insurance, which are the state’s top priorities for completing the process of building the Egyptian citizen, and effective contribution to alleviating the living burdens on citizens and meeting their basic and development needs.

 

The Minister indicated: “We keep going in developing and mechanizing the tax and customs systems, in a way that contributes to laying the foundations for financial policies that support the growth of real economy sectors by stimulating investment.

 

Anna Birdy, Director General of Operations at the World Bank, praised the efforts made by the Egyptian state to implement the macroeconomic reform program, and the measures taken to control inflation rates, and adopt balanced and flexible economic policies, expressing her appreciation for the Egyptian steps aiming for investing in the development of the Egyptian citizen and expanding the umbrella of social protection.