Egypt’s Minister of International Cooperation Rania Al-Mashat met on Monday the World Bank's Regional Director for Human Development in the Middle East and North Africa Keiko Miwa to explore opportunities for future cooperation on human capital investment, particularly in education, health, women empowerment, and vaccines.

The meeting was attended by Marina Weiss, World Bank country director for Egypt, Yemen, and Djibouti.

Discussions were held about opportunities for joint collaboration and Egypt's efforts to invest in human capital, in line with Egypt Vision 2030 and the UN’s global sustainable development goals (SDGs) agenda.

Al-Mashat said Egypt is engaged with the World Bank through a strategic partnership, adding that the bank contributed to the implementation of several projects in Egypt and enhancing the state’s efforts to improve people's livelihoods.

The World Bank is financing Egypt’s education modernisation project with a $500 million facility, in addition to contributing to pushing the efforts concerning the universal healthcare insurance system, social protection programmes, and social housing.

Al-Mashat noted that investing in human capital is one of Egypt’s priorities, citing the presidential Decent Life Initiative which targets improving the life of people in rural areas.

Miwa praised Egypt's efforts to counter the spread of COVID-19, curb its repercussions, and continue its developmental efforts, which helped maintain the country’s credit ratings in the indices of global institutions.

Egypt has made persistent efforts regarding women empowerment, Miwa added.

COVID-19 poses a great risk to human capital in Egypt, yet the government has a number of initiatives in place, which are meant to tackle these challenges, including Takaful and Karama, Decent Life, and reforms in the education sector, according to the World Bank.

The World Bank's development cooperation portfolio in Egypt amounts to $5.8 billion, covering 17 projects in nine sectors, including education, health, transport, social solidarity, petroleum, housing, sanitation, local development, and the environment.