Egyptian Foreign Minister Badr Abdelatty held a series of meetings and participated in ministerial sessions in Bangkok on Tuesday on the sidelines of the annual meetings of the World Bank Group and the International Monetary Fund (IMF), focusing on food security, maritime routes, development financing, economic reform and cooperation with international and Gulf institutions.
Abdelatty, who serves as Egypt’s governor at the World Bank, participated in a ministerial meeting on food security and critical maritime corridors attended by World Bank Group President Ajay Banga, UN Deputy Secretary-General Amina Mohammed and Egyptian Planning and Economic Development Minister Ahmed Rostom.
He said food security was closely linked to the stability of global supply chains and strategic shipping routes, warning that ongoing disruptions were driving up freight, food and fertiliser costs and placing additional pressure on developing economies.
Abdelatty said Egypt was strengthening its strategic reserves, diversifying import sources, increasing domestic production and expanding storage capacity. He also affirmed Cairo’s readiness to work with development partners to host a global hub for grain storage, supply and trade.
He proposed four priorities for strengthening global resilience to food crises: maintaining the flow of food, fertiliser and energy trade; providing insurance and financial guarantees for essential shipments; offering rapid and flexible financing to countries affected by higher import costs; and strengthening preparedness through strategic reserves, early-warning systems and closer coordination among exporters, importers and transit countries.
In a separate meeting with World Bank Vice President for the Middle East and North Africa Ousmane Dione, Abdelatty discussed completing the third and final phase of Egypt’s Development Policy Financing framework following the conclusion of the second phase.
He also invited the World Bank to participate in the sixth Aswan Forum for Sustainable Peace and Development, scheduled for November.
The talks also covered reforming the international financial architecture, strengthening the lending capacity of multilateral development banks and developing innovative financing instruments to address rising sovereign debt burdens in low- and middle-income countries.
Abdelatty also discussed water cooperation with Dione, reiterating Egypt’s support for Nile Basin countries’ right to development and dam construction, provided that projects comply with international law and its relevant principles, including avoiding harm, prior notification, consultation and consensus.
He referred to a newly established Egyptian mechanism to finance projects in Nile Basin countries, including dams in countries in the southern part of the basin.
Abdelatty also met with Saudi Fund for Development Chief Executive Sultan bin Abdulrahman Al-Marshad to discuss expanding development cooperation in Egypt, particularly in infrastructure and support for micro, small and medium-sized enterprises.
He called for a greater role for Arab development institutions in providing flexible financing to economies affected by regional escalation, higher financing costs and supply-chain disruptions. Al-Marshad said the fund was keen to continue supporting development in Egypt and explore broader trilateral cooperation in Africa.
In talks with Gulf Cooperation Council (GCC) Secretary-General Jasem Mohamed Albudaiwi, Abdelatty stressed that the security of Gulf states was an integral part of Egyptian national security.
The two sides condemned recent attacks targeting Saudi Arabia and reaffirmed their support for the kingdom’s security, sovereignty and territorial integrity.
They also discussed holding the second Egypt–GCC Investment and Trade Forum in New Alamein to promote investment, trade, energy cooperation and supply-chain integration. They further emphasised the importance of continuing political consultations under the Egypt–GCC Joint Action Plan for 2024–2028.
Abdelatty separately met with World Bank Chief Economist and Senior Vice President for Development Economics Michael Kremer to present key elements of Egypt’s planned national economic transformation programme.
The discussions covered the government’s privatisation programme, the management of state-owned companies and efforts to expand the private sector’s contribution to economic growth, exports and job creation. The two sides also discussed food security, agricultural technology and measures to improve soil productivity.
In another meeting, Abdelatty held talks with Kuwaiti Finance Minister Yaqoub Al-Rifai on increasing Kuwaiti investment in Egypt and identifying sectors and projects offering opportunities for private-sector participation.
They also discussed strengthening Arab coordination within the World Bank on development financing, fiscal reform and regional priorities. Abdelatty expressed Egypt’s interest in expanding cooperation with the Kuwait Fund for Arab Economic Development.
Abdelatty later addressed a meeting of ministers and governors of the Group of 24 (G24), calling for reform of international financing mechanisms and more responsive global financial institutions capable of addressing the needs of developing economies.
He said Egypt was expanding investment in the Suez Canal Economic Zone, ports, renewable energy and green hydrogen, while promoting manufacturing, local value chains and job creation.
Abdelatty also called for stronger regional economic integration and the implementation of the African Continental Free Trade Area to support growth and development across the continent.
