Egypt’s Minister of International Cooperation, Rania Al-Mashat, met with Stephane Guimbert, the newly appointed Country Director for Egypt, Yemen, and Djibouti at the World Bank Group. The Saturday meeting aimed to track the implementation of ongoing portfolio projects for development cooperation and identify future priorities in line with the Strategic Partnership Framework between Egypt and the World Bank for the period 2023-2027.
During the meeting, Minister Al-Mashat expressed appreciation to the World Bank team for their productive cooperation. This includes the completion of the “Takaful and Karama” cash transfer program expansion agreement worth $500 million and the development of the Cairo-Alexandria trade logistics line project worth $400 million. Both projects started implementation this year with development financing from the World Bank.
The meeting focused on the next steps to finalize the technical studies related to the Climate-Resilient Agricultural Transformation (CRAFT) project within the “NWFE” program. This project integrates the Crop Adaptation in the Nile Valley and Delta project and the Early Warning Systems project, in coordination with the Ministry of Agriculture and Land Reclamation, the Ministry of Water Resources and Irrigation, the International Fund for Agricultural Development, and the World Bank. The CRAFT project aims to improve crop productivity, enhance adaptive capacity in the Nile Valley and Delta, and establish early warning units to reduce climate change risks for farmers.
Cooperation with the Climate Investment Funds (CIF) was also discussed, as CIF is a contributor to the “NWFE” program. Technical discussions are in progress to prepare an investment plan to benefit from the Nature, People, and Climate Investment Program under CIF. This program will implement $44 million in grants and concessional financing to support climate-smart agriculture, water management, agricultural business, and financing, as well as coastal zone management within the NWFE.
Additionally, ongoing cooperation efforts in strengthening the role of the private sector and creating an attractive economic environment for investments were discussed. The World Bank is providing technical support to the Information and Decision Support Center under the Cabinet to implement the State Property Policy document launched in 2022.
Minister Al-Mashat mentioned the World Bank’s study to assess the status of foreign direct investment in Egypt, as well as the preparation of a national strategy for the industry.
The two sides also discussed the Infrastructure Sector Assessment Program (InfraSAP), and ongoing discussions are being conducted with relevant Egyptian ministries and the World Bank on its implementation, in accordance with the outcomes of the Climate and Development Report (CCDR).
