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  • Monday, 11 September 2023

Minister of International Cooperation H.E. Dr. Rania A. Al-Mashat Meets World Bank Regional Director for Human Development to Follow-up on Programs & Projects to Promote Investment in Human Capital in Egypt

● Minister of International Cooperation: The World Bank is one of our leading development partners in implementing human development projects in Egypt.

● Programs and projects for investment in human capital have become a model promoted by the World Bank for application in other countries.

The  Minister of International Cooperation and Governor of Egypt at the World Bank Group H.E. Dr. Rania A. Al-Mashat, met with Ms. Fadia Saadah, Regional Director for Human Development at the World Bank, at the Ministry's headquarters in the New Administrative Capital.

This took place  in the presence of the new Regional Director of the World Bank in Egypt, Yemen, and Djibouti, Mr. Stephane Guimbert, and leaders and officials from both sides, within the framework of her visit to Egypt to attend the 1st  World Conference on Health, Population and Development, which was held under the patronage of H.E. the President of the Arab Republic of Egypt, H.E. Abdel Fattah El-Sisi, where the meeting discussed strengthening aspects of partnership between the government and the World Bank with regard to human development programs and investment in human capital under the umbrella of the country partnership framework for 2023 - 2027 (CPF), as well as discussions of ongoing projects in the field of health, social protection, women’s empowerment, and many other sectors.

During the meeting, the Minister welcomed the World Bank’s Regional Director for Human Development, highlighting the close and long-term partnership between the Arab Republic of Egypt and the World Bank Group to implement many projects in vital sectors and enhance technical support efforts, which is reflected in stimulating Egypt’s Vision for 2030, which is consistent with the SDGs.

H.E. also indicated that investment in human capital is one of the main areas of cooperation in the strategy with multilateral and bilateral development partners, especially the World Bank Group, which finances major projects, foremost of which are comprehensive health insurance and social protection "Takaful and Karama", strengthening food security efforts and improving the standard of living for citizens.

Al-Mashat explained that the 2023 - 2027 CPF between Egypt and the World Bank for the period 2023-2027, signed last May, enhances sustainable development efforts in three main pillars: More and Better Private Sector Jobs: through supporting the creation of an empowering environment for private sector-led investments and job opportunities as well as creating a level playing field for the private sector; Enhanced Human Capital Outcomes: through supporting the provision of inclusive, equitable and improved health and education services as well as effective social protection programs; and Improved Resilience to Shocks: through strengthened macroeconomic management, and climate change adaptation and mitigation measures.

The meeting witnessed a follow-up on the ongoing development cooperation programs and projects between the two sides to enhance investment in human capital, most notably the project to develop the health care system in Egypt, in addition to the comprehensive health insurance project to enhance the country’s efforts in universal health coverage for citizens. The programs implemented with the International Finance Corporation (IFC) were also discussed, as well as the technical support project for the contracting system in the health services sector, and the issuance of the Country Private Sector Diagnostics (CPSD) report, which addresses private sector participation in the health sector and how to maximize the benefit from private investment in health care.

The Minister highlighted that the human capital investment projects that the World Bank contributed to financing in Egypt, especially the “Takaful and Karama” social protection program, have become pioneering models that the World Bank is promoting to replicate in other countries.

Moreover, the meeting discussed developments in the education sector development project funded by the World Bank, with the aim of improving access to early childhood education, developing the student evaluation system, enhancing the capabilities of students and teachers, and using modern technology in different educational stages. They also discussed developments in expanding the umbrella of social protection through the “Takaful and Karama” program were also discussed, which strengthens the country’s efforts to support low-income groups in 27 governorates, enhance women’s empowerment efforts, and develop health and educational services, inclusion, and social integration for about 5.3 million families, according to official data available until last June.

In connection with the ongoing efforts to enhance investment in human capital, the Minister discussed efforts to empower women at the level of technical support programs provided by the World Bank and the IFC, as well as the reports issued by the World Bank on Egypt, including the Egypt Economic Monitor, the Egypt Public Expenditure Review for Human Development, and the Demographic Report on Human Development.

It is worth noting that the ongoing portfolio of development cooperation between the Arab Republic of Egypt and the World Bank Group includes 14 projects worth $6.9 billion in the fields of education, health, transportation, social protection, renewable energy, water desalination, housing, local development, and the environment.