Photo courtesy of Egypt's ministry of foreign affairs
Abdelatty met the World Bank’s vice president for the Middle East and North Africa, Ousmane Dione, and IFC vice president for Africa, Ethiopis Tafara, to discuss economic cooperation, investment, and development financing following the recent International Monetary Fund (IMF) and World Bank meetings in Washington.
The talks focused on expanding cooperation in health, water, energy, food security, and digital transformation, while following up on the outcomes of World Bank Group (WBG) President Ajay Banga’s March visit to Cairo, according to the ministry.
Abdelatty welcomed the implementation of the second phase of the World Bank’s $1 billion Development Policy Financing programme and said Egypt looks forward to launching a third phase and maximizing the benefits of the World Bank’s 2023–2027 strategic partnership framework with the country.
He reiterated the government’s commitment to continuing its comprehensive economic reform programme, highlighting efforts to expand the state privatization programme and increase the number of companies offered under it.
The minister said empowering the private sector remains a key government priority, adding that Egypt is working to improve the investment climate through tax and customs incentives and the digitalization of services.
Abdelatty also expressed interest in expanding cooperation with the IFC in the electricity, tourism, agriculture, and small- and medium-sized enterprise (SME) sectors, while exploring opportunities with the Multilateral Investment Guarantee Agency (MIGA) to support state-owned enterprises and maximize the use of state assets.
Dione praised Egypt’s economic and structural reform measures and said the country had maintained economic resilience despite ongoing regional and global challenges, according to the statement.
He said the reforms had helped strengthen monetary and financial stability, improve the investment climate, and support social protection and economic empowerment programmes.
Dione also said the Egyptian economy had demonstrated resilience in the face of escalating regional tensions, supported by structural reforms and a flexible exchange-rate system. Additionally, he commended Egypt’s regional role in promoting sustainable development and addressing shared challenges.
Egypt has intensified cooperation with international financial institutions over the past two years as it seeks to stabilize its economy, attract foreign investment, and accelerate private-sector participation following a prolonged foreign currency shortage and inflationary pressures linked to regional instability and global economic shocks.
In March 2024, Egypt secured an expanded $8 billion loan programme with the IMF after adopting a more flexible exchange-rate regime and committing to broader structural reforms, including reducing the state’s role in the economy and expanding privatization efforts.
The WBG has remained one of Egypt’s key development partners, financing projects in sectors including transportation, healthcare, social protection, renewable energy, water, and digital transformation.
In March 2025, World Bank Group President Ajay Banga visited Cairo to discuss with Egyptian officials boosting investment, supporting private-sector-led growth, and enhancing regional economic integration.
The World Bank’s current Country Partnership Framework for Egypt for 2023–2027 focuses on increasing private-sector job creation, strengthening resilience to economic shocks, improving governance, and supporting green and inclusive growth.
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