Minister of Planning and Economic Development Ahmed Rostom highlighted Egypt’s economic recovery and outlined the government’s National Economic Transformation Programme during the 81st Annual Meetings of the International Monetary Fund (IMF) and World Bank Group in Bangkok, Thailand.
During the meetings, Rostom held talks with World Bank Group President Ajay Banga, International Finance Corporation (IFC) Managing Director Makhtar Diop, and other top officials from Canada, Jordan, Kuwait, Sweden and Japan.
During the meetings, Minister Rostom noted that positive economic indicators at the end of the previous fiscal year reflected structural reforms aimed at strengthening macroeconomic stability, boosting production and investment, mitigating geopolitical challenges, and improving citizens’ living standards.
A key focus of the discussions was a proposed partnership with the World Bank to establish a local-currency guarantee mechanism for infrastructure financing.
The initiative seeks to reduce investment risks, mobilise private capital, support water sustainability, renewable energy, green transport and industrial infrastructure projects, improve the efficiency of public spending, and ease pressure on the state budget.
The talks also covered innovative financing mechanisms, food security challenges resulting from disruptions along strategic maritime corridors, and human capital development.
Rostom stressed the need to align education and training programmes with labour market requirements, particularly in the fields of artificial intelligence, digitalisation and emerging technologies.
The minister reaffirmed the importance of co-operation with international financial institutions and regional development banks, particularly BADEA, to mobilise financing and technical expertise.
He also underscored the importance of activating the African Continental Free Trade Area (AfCFTA) to facilitate trade and investment, strengthen regional value chains, and enhance competitiveness in global markets.
