President El-Sisi Meets President of World Bank Group

Today, President Abdel Fattah El-Sisi met at his residence in Washington, D.C. with the  President of the World Bank Group, David Malpass.

The Spokesman for the Presidency said that the President affirmed his interest in consulting with the leaders of the World Bank, based on Egypt's keenness to enhance cooperation with the World Bank as part of the fruitful partnership between the two sides. This is of particular importance in light of the successive international crises that the world is experiencing and their repercussions on all governments, especially emerging countries. This is in order to support the national efforts in Egypt to maintain the path of comprehensive development pursued by the state in all its economic and social fields. The President noted that the current global economic changes require international financial institutions, led by the World Bank, to develop and update the standards of cooperation with governments that have been severely affected by these changes.

Mr. Malpass affirmed the Bank's keenness to develop frameworks of consultation and coordination with Egypt to continue supporting the economic reforms it implements,  reflected in the resilience demonstrated by the Egyptian economy in the face of all successive global crises. This helped it achieve positive growth rates in the last period, in addition to efforts to improve the business and investment climate and the establishment of giant development projects, in a way that made Egypt a role model in implementing economic reform plans.

The Spokesman added that the meeting reviewed the most important aspects of cooperation with the World Bank, in light of the current global food and energy crises. This is in addition to presenting the various mega development projects launched recently by the Egyptian government, as well as discussing ways to deepen the partnership between the two sides in the fields of infrastructure and new and renewable energy, and optimising the role of the private sector in the development process.