Egypt, World Bank Cooperation Portfolio in Dev't Projects Reaches $5.5 Bln

Egypt is one of the countries that enjoy a strategic partnership with the World Bank Group, where the volume of the ongoing development cooperation portfolio is $5.5 billion, to finance 15 projects in several different development sectors.

Among these sectors are transportation, education, housing, health, social protection networks, petroleum, housing, sanitation, local development, and the environment.

In addition, the International Finance Corporation, the arm of the World Bank Group for financing the private sector, directed in 2021 development financing amounting to $ 421 million to the private sector in Egypt.

Rania Al-Mashat, Minister of International Cooperation and Governor of Egypt at the World Bank Group, held a virtual meeting with Farid Belhaj, Vice President of the World Bank Group for the Middle East and North Africa, in the presence of Mirza Hassan, Dean of the Board of Executive Directors of the World Bank Group, and Stephen J. Cooper, Director of Strategy and Operations in the Office of the Vice President of the World Bank for the Middle East and North Africa, Marina Weiss, Regional Director for Egypt, Yemen and Djibouti at the World Bank, Ambassador Raji El-Etreby, Alternate Executive Director of the World Bank for Egypt and the Arab Countries, and the Ministry of International Cooperation’s team.