Ahmed Rostom, Minister of Planning and Economic Development, discussed prospects for cooperation and strengthening the development partnership with Anshula Kant, Managing Director and Chief Financial Officer of the World Bank Group. This came during a high-level meeting held on the sidelines of his active participation in the annual meetings of the World Bank Group and the International Monetary Fund (IMF) in the Thai capital, Bangkok.The minister reviewed the performance indicators of the Egyptian economy, emphasizing its evolving ability to absorb shocks and achieve positive growth rates despite the complexities of the global economic landscape and regional geopolitical tensions.
Rostom presented the main outlines of the "National Program for Economic Transformation" to the World Bank's senior management. The program is currently being drafted by the Egyptian government in execution of presidential directives to consolidate macroeconomic stability and build on gains achieved by recent structural reforms, with a focus on stimulating investment and production.He noted that discussions covered the executive steps for the "Infrastructure Project Financing Guarantee Mechanism," currently under development in partnership with the World Bank.
Rostom stressed the importance and priority of this mechanism, explaining that it represents a qualitative shift toward attracting private investment and providing innovative, long-term financing solutions in local currency.The minister confirmed that activating this mechanism directly aims to mitigate investment risks for the private sector.
This will contribute effectively to raising the efficiency of public spending, easing financing pressures on the state general budget, and supporting the sustainability of infrastructure projects. Egypt sees major expansion in agricultural development projects House speaker mourns death of MP Saad el Gammal Egypt sees major expansion in agricultural development projects House speaker mourns death of MP Saad el Gammal