Development banks play pivotal role in boosting developmental action with developing countries: Mashat

Minister of International Cooperation Rania el Mashat asserted that the multi-party development banks play a pivotal role in boosting the developmental action with the developing countries and startup economies, adding that in light of the complicated challenges facing the world economy, banks are required to come up with creative solutions and work mechanisms aiming at facing the crises.


This came during Mashat’s meeting on Wednesday 12/4/2023 with World Bank’s Senior Managing Director (SMD) responsible for Development Policy and Partnerships Axel van Trotsenburg, World Bank’s Managing Director of Operations Anna Bjerde, World Bank Vice President for Middle East and North Africa Ferid Belhaj, Executive Director at the World Bank Mansour al Shamali and World Bank’s country director for Egypt Marina Wes.
The meeting, which is held on the sidelines of 2023 Spring Meetings of the World Bank Group and the International Monetary Fund (IMF) held in Washington, tackled boosting the role of the World Bank in the field of funding development and climate action in member states and reviewing the conditions related to workflow of the bank, means to boost its role in facing the challenges of development, eradicating poverty and promoting prosperity in the developing and startup economies in addition to expanding the climate finance.
Mashat, also Egypt’s Governor at the World Bank Group, pointed out to the strong relation between the Egyptian government and the World Bank Group that aim at boosting the different domains of development.
Both sides tackled the projects of NWFE program that was launched during COP27 that was held in Sharm el Sheikh.
Mashat thanked the World Bank Group on continuous coordination and cooperation for more than a year for technical preparation for the new Qatari strategy in cooperation with the institutions of the private sector and organizations of the civil community to guarantee the comprehensiveness of this strategy to all the prioritized sectors in the state.

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