On Friday, October 16, 2026, Dr. Badr Abdel Aty, Minister of Foreign Affairs, International Cooperation and Egyptians Abroad, participated in the Arab Governors' meeting with Ajay Banga, President of the World Bank Group. During the meeting, he reviewed Egypt's priorities to enhance economic stability, achieve sustainable growth, and deepen cooperation with the Group to support economic reform, attract investments, and create job opportunities.
Ambassador Nader Zaki, Official Spokesperson for the Ministry of Foreign Affairs, stated that Minister Abdel Aty addressed in his speech the economic repercussions of regional conflicts and disruptions in vital trade and shipping lanes, primarily Bab al-Mandab and the Strait of Hormuz. He pointed out their impact on energy and import costs, pressures on the exchange rate, and challenges related to food and energy security, as well as the rising cost of living.
The Minister of Foreign Affairs emphasized the importance of expanding investments in the energy, water, and food security sectors, including through the national platform for the "NWFE" program, alongside developing regional transport, trade, and logistics systems, and enhancing the private sector's role in driving these sectors.
Abdel Aty reaffirmed Egypt's commitment to continuing the implementation of its economic reform program, enhancing fiscal sustainability, and consolidating the foundations of sustainable growth. He stressed the importance of deepening the partnership with the World Bank Group to support economic reforms, strengthen resilience against shocks, stimulate investment, create employment opportunities, and expand private sector participation under the State Ownership Policy Document for the period 2026-2030.
In this context, the Foreign Minister called on the World Bank Group to expand the provision of guarantees, blended finance instruments, and local currency financing to help mobilize further investments, support development efforts, and provide productive and sustainable job opportunities.
