Al-Mashat emphasized that the messages delivered by President Abdel Fattah El-Sisi during the forum underscore the need to reshape international cooperation to support sustainable development and maintain partnership momentum in the face of interlocking crises.
The Minister stressed that multilateral development banks,
led by the World Bank, must play a more effective role in supporting developing
nations. She called for expanded long-term development financing and innovative
concessional tools to enhance economic resilience and growth amid current
geopolitical and economic shifts.
Al-Mashat outlined the Egyptian economy's structural shift
toward a model driven by the real economy, emphasizing ongoing reforms to boost
productivity, increase export-oriented sectors, and stimulate investment.
She identified human development, industrial localization,
and labor market efficiency as the core pillars of Egypt’s National Narrative
for Comprehensive Development, which aims for sustainable growth led by the
private sector.
The Minister noted a qualitative shift in Egypt’s
partnership with the World Bank in recent years, focusing on policies that
empower the private sector and improve the business climate. This includes
knowledge-sharing initiatives, advisory services for the government’s
privatization program, and cooperation with the State-Owned Enterprises unit.
Highlighting the steady improvement in the Egyptian economy, Al-Mashat underscored the importance of continued collaboration with the World Bank Group, including the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA), to mobilize further investment and implement high-impact development projects.