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  • Wednesday, 21 February 2024

The Minister of International Cooperation, H.E. Dr. Rania A. Al-Mashat, Meets with the Vice President of the World Bank and Reviews Joint Cooperation in Green Projects and Technical Support for the NWFE Program

The Minister of International Cooperation, H.E. Dr. Rania A. Al-Mashat met with Guangzhe Chen, Vice President of Infrastructure the World Bank Group (WBG) for Infrastructure, Paul Noumba Um, Regional Director of Infrastructure Management for the Middle East and North Africa at the World Bank, and Stephane Guimbert, the Bank’s Regional Director for Egypt and Yemen and Djibouti, in the presence of the Ministry’s technical team and the World Bank team, at the Ministry’s headquarters in the New Administrative Capital.

The meeting witnessed a discussion of joint cooperation efforts with the World Bank regarding sustainable and green infrastructure projects in Egypt in cooperation with national authorities, and a discussion of future partnerships and technical support for the NWFE program.

At the beginning of the meeting, Al-Mashat welcomed the World Bank delegation, stressing the government’s aspiration to enhance joint cooperation with the Bank in various fields in light of its efforts to develop and develop sustainable and green infrastructure, pointing to the various projects being implemented with the World Bank in vital areas such as transportation and renewable energy and other sectors.

Al-Mashat indicated that the government is working to develop and develop infrastructure and the transition to green and sustainable infrastructure within the goals of Egypt’s Vision 2030, especially at the level of the energy and renewable energy sector, and sustainable management of water resources, pointing to the government’s aspiration for more joint cooperation with the World Bank and its affiliated institutions under the umbrella of the Country Partnership Framework (CPF) 2023-2027.

For his part, the Vice President of the World Bank for Infrastructure applauded the projects that Egypt is working to implement in many areas of infrastructure in cooperation with the World Bank, including the project to develop railway signaling systems, sustainable green, environmentally friendly mass transit projects, as well as dry ports and logistics areas, which are considered one of the most important investment opportunities available to the private sector, in addition to implementing many projects in the energy fields to reduce carbon dioxide emissions.

The World Bank officials also indicated their keenness to cooperate with Egypt in providing sustainable financing for infrastructure sectors by modernizing the railway sector, supporting social safety net systems, and accelerating the green transformation process, in line with the goal of the World Bank’s strategy to support Egypt towards building railways, innovative and sustainable solutions to address development challenges in various sectors.

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.