Egypt, World Bank discuss launch of country strategy 2023/2027
International Cooperation Minister Rania Al-Mashat discussed on Sunday with World Bank's Country Director for Egypt, Yemen, and Djibouti Marina Wes developments of outlining the joint country strategy 2023/2027.
Mashat noted that the government receives final notes on the draft strategy from national bodies and ministries to be announced after the UN climate conference, COP27, a matter which represents a new chapter in Egypt-WB relations.
Mashat asserted the importance of listing the national platform for green projects, the NWFE program, in the strategy's axes, noting the program enhances efforts to adapt to and mitigate the repercussions of climate change in the water, food, and energy sectors and pushes green transition efforts under the umbrella of the National Climate Change Strategy 2050.
The World Bank's active portfolio in Egypt is composed of 14 operations for a net commitment amount of $6.83 billion. The portfolio is focused on human development, service delivery improvement to citizens (especially in rural and lagging regions), and operations on environment sustainability.