FM Shoukry discusses economic reforms, COP27 with World Bank Executive Directors delegation

Ahram Online , Sunday 5 Jun 2022

Foreign Minister Sameh Shoukry discussed on Sunday with a delegation from the World Bank Executive Directors the Egyptian government’s latest economic reforms as well as the preparations for hosting the UN Climate Change Conference 2022 (COP27).

Egypt s FM Sameh Shoukry in his meeting in Cairo on Sunday with the delegation from World Bank Executive Directors


During the meeting in Cairo, Shoukry reviewed the economic reforms that the Egyptian government is undertaking to achieve a resilient, comprehensive and sustainable economic recovery and to activate the national development vision in line with the UN 2030 Agenda for Sustainable Development, according to the Egyptian foreign ministry.

Shoukry noted that these reforms are being undertaken in light of the enormous economic repercussions associated with the recent international developments, especially the Russian-Ukrainian war, adding that Egypt is looking forward to its partners’ support – at the top of which is the World Bank – to emerge from this crisis and overcome its consequences.

Shoukry also reviewed the government’s vision to overcome this crisis and the efforts it is making in this regard, especially enhancing the role of the private sector, working to attract new investments and putting forward an integrated vision for the advancement of the Egyptian Stock Exchange in addition to taking measures aimed at mitigating the impacts of the crisis on the Egyptian people.

He also discussed the shared priorities between Egypt and the World Bank, like supporting the transition towards a green economy, enhancing environmental sustainability, accelerating the pace of digital transformation, empowering women, promoting gender parity, as well as enhancing the participation of of the private sector in development.

As the president designate of COP27, which is scheduled to be held in Sharm El-Sheikh in November, Shoukry expressed his aspiration to work with the World Bank to make the conference a success and yield the desired results in a manner that considers the concerns of the various parties.

Shoukry also said that the conference will be an opportunity to foster cooperation with African countries in the field of generating clean and renewable energy with the aim of supporting the continent’s efforts to confront the repercussions of climate change.

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