Cairo: Minister of Planning and Economic Development Ahmed Rostom engaged in discussions with Abdel Aziz Al-Mulla, Executive Director for the Arab Countries Group at the World Bank, focusing on enhancing cooperation between Egypt and the World Bank Group. The core agenda of the meeting revolved around supporting Egypt's efforts to achieve comprehensive and sustainable development, aligned with the objectives of Egypt Vision 2030.
According to State Information Service Egypt, Minister Rostom emphasized the importance of directing concessional development financing and technical expertise towards high-impact development projects. The key areas identified for this support include employment generation, sustainable infrastructure, and human capital investment, all aimed at fostering inclusive and sustainable economic growth.
The discussions included exploring the implementation of spatial development programs to boost employment rates by applying the economic clusters approach. This approach is designed to support local value chains and stimulate productive activities across various governorates. Rostom highlighted that this strategy aligns with the presidential initiative 'Hayah Karima', which aims to support small and medium enterprises, expand local production, and create sustainable jobs in villages and underserved areas.
Additionally, the meeting addressed the World Bank Group's role in supporting Egypt's efforts to expand innovative financing models. These models are intended to stimulate infrastructure projects, enhance implementation efficiency, and alleviate fiscal pressure on the state budget. Rostom stressed the importance of continued coordination between Egypt and the World Bank to expedite the implementation of joint programs and projects.
The meeting also underscored the value of leveraging semi-annual events organized by the World Bank, such as spring and annual meetings, to demonstrate Egypt's experiences in adopting effective economic reform agendas and executing comprehensive development programs.