Egypt’s Minister of Industry Khaled Hashem held talks in Cairo on Thursday with World Bank Regional Director Stefan Gimberth and IFC Country Manager Saad Sabra to discuss support for Egypt’s industrial development plans. Senior ministry officials attended the meeting.
The discussions covered World Bank and IFC programs in Egypt, including financial inclusion for small businesses, technical support to reduce carbon emissions, and initiatives to back pharmaceutical manufacturing in Africa. Hashem emphasized the ministry’s commitment to updating Egypt’s national industrial strategy, focusing on five to seven key industries and their feeder sectors to restore Egypt’s global industrial position.
Hashem outlined plans to create detailed industrial maps identifying strategic sectors for each region, improve energy efficiency to align with the EU’s Carbon Border Adjustment Mechanism, and expand renewable energy use tailored to each industrial zone. He also announced work on new citizen-funded industrial investment funds, with IFC advising on policy design.
The minister highlighted the concept of “productive villages” to support balanced industrial growth, reduce irregular migration, and link small workshops with larger factories through supply chain integration. Gimberth affirmed the World Bank’s readiness to provide technical support aimed at empowering Egypt’s private industrial sector and boosting its contribution to GDP.
