Egypt Reaffirms Reform Commitment in Talks with World Bank President in Washington

Egypt’s Minister of Planning and Economic Development Ahmed Rostom held high-level talks with Ajay Banga, President of the World Bank Group, on the sidelines of the Spring Meetings of the World Bank and the International Monetary Fund, underscoring Cairo’s commitment to economic reform despite mounting regional challenges.

The meeting, attended by Foreign Minister Badr Abdelatty, focused on deepening cooperation across key development sectors, with particular emphasis on empowering the private sector and expanding infrastructure investment.

Rostom highlighted the strength of Egypt’s longstanding partnership with the World Bank Group, describing it as a cornerstone of the country’s development agenda. He pointed to the recent visit by Banga to Egypt as evidence of the country’s strategic importance within the bank’s operations in the Middle East.

During the discussions, both sides explored ongoing and future areas of collaboration, including development policy financing and the role of the International Finance Corporation in supporting Egypt’s state asset offering program, aimed at increasing private sector participation in the economy.

The minister reaffirmed that the government remains firmly on its reform path, noting that Egypt has managed to sustain economic momentum despite geopolitical tensions and global supply chain disruptions. He emphasized that proactive policies and precautionary measures have helped reinforce macroeconomic stability.

According to Rostom, Egypt’s economy recorded a growth rate of 5.3% in the first half of the current fiscal year, driven by strong performance in productive sectors, particularly non-oil manufacturing, alongside services and exports.

He also outlined government efforts to secure energy supplies, maintain strategic reserves of essential commodities, and strengthen social safety nets, while continuing to invest in human capital through improvements in healthcare and education.

Concluding the meeting, Rostom and Abdelatty expressed appreciation for ongoing cooperation with the World Bank Group, particularly in social protection and long-term development financing. They stressed that the next phase would focus on scaling up private sector involvement in infrastructure projects and advancing Egypt’s comprehensive economic reform agenda.