Planning and Economic Development Minister Ahmed Rostom met on Thursday with the Global Director for Metals and Minerals at the World Bank (WB), Namrata Thapar, to discuss strengthening the strategic partnership to increase mining’s contribution to GDP and support economic reforms.
Rostom said Egypt is working to develop the mining sector through policies aimed at empowering the private sector and attracting local and foreign investment to develop untapped natural resources.
The efforts seek to increase the value added of mineral resources, create jobs and support sustainable economic development.
Thapar praised Egypt’s structural reforms and steps to develop the mining sector.
She expressed the WB’s interest in deepening co-operation through technical assistance, capacity-building programmes and work on an integrated roadmap for developing mineral resources and related supply chains.
Rostom also highlighted Egypt’s longstanding partnership with the WB, which has supported major projects in health, education and infrastructure.
He said Egypt is working with the bank and other international institutions to launch a financing guarantee mechanism for infrastructure projects to help mobilise private investment.
He added that Egypt’s economy is showing continued improvement, supported by economic and structural reforms.
He said this has helped maintain positive and rising growth rates despite global and regional uncertainty caused by ongoing geopolitical tensions.
