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Egypt-World Bank CPF 2023-2027 aims to back Egypt in building innovative, sustainable solutions
Egypt-World Bank CPF 2023-2027 aims to back Egypt in building innovative, sustainable solutions
The Egypt – World Bank Country Partnership Framework (CPF) 2023-2027 aims to support Egypt in building innovative paths and sustainable solutions to address development challenges in various sectors, topped by eradication of poverty, promotion of comprehensive prosperity for all social segments, and the creation of conditions conducive to achieving comprehensive, sustainable and resilient green development.
The new partnership between Egypt and the bank supports future joint cooperation programs and projects. The new partnership was approved on March 21, 2023, by the Board of Executive Directors of the World Bank Group, in order to support efforts to achieve comprehensive and sustainable growth, based on national priorities in various sectors and the development vision over the next five years. The new partnership of the World Bank is consistent with the Government of Egypt’s strategy for sustainable development, Egypt’s Vision 2030, and the Egypt National Climate Change Strategy (NCCS) 2050.
The new CPF places citizens at the core by striving to achieve three main objectives; namely 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 CPF was launched on May 7, 2023, in the presence of Dr. Mostafa Madbouly, Prime Minister of Egypt as well as a group of ministers, officials of the private sector, civil society, and members of the House of Representatives and Senate.
During the CPF launch, Minister of International Rania Mahat, Minister of International Cooperation and Governor of Egypt at the World Bank, honored Marina Wes, Country Director for Egypt, Yemen and Djibouti at the World Bank, and Robert Bou Jaoude, Director of Operations at the World Bank’s Egypt Office, in the presence of Ferid Belhaj, Vice President for the Middle East and North Africa Region of the World Bank.
As the term of the World Bank’s country director in Egypt is about to end, Mashat stressed the role played by the bank’s country office in strengthening bilateral cooperation, and continuous communication with various government entities to advance areas of cooperation in order to promote national priorities to achieve the Sustainable Development Goals (SDGs).
Mashat thanked the World Bank team for their efforts over the past period in preparing the partnership in cooperation with the Ministry of International Cooperation team and technical teams from the various relevant entities, whether from the government or the private sector.
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