Dr. Ahmed Rostom, Minister of Planning and Economic Development, concluded his active participation in the eighty-first edition of the Annual Meetings of the International Monetary Fund and the World Bank Group, hosted in the Thai capital, Bangkok, in the presence of high-level government leaders, officials of international financial institutions, and UN organizations.
The Minister's participation witnessed an intensive agenda that included a series of bilateral meetings and high-level sessions with top global and regional financial and development decision-makers, led by Ajay Banga, President of the World Bank Group; Makhtar Diop, Managing Director of the International Finance Corporation (IFC); and Ousmane Dione, World Bank Vice President for the Middle East, North Africa, Afghanistan, and Pakistan.
The Minister also met with Dr. Sidi Ould Tah, President of the African Development Bank Group; Abdalla El-Musaibeer, President of the Arab Bank for Economic Development in Africa (BADEA); and Eng. Hani Salem Sonbol, CEO of the International Islamic Trade Finance Corporation (ITFC).
Discussions extended to include a number of ministers, government officials, and representatives of global investment funds; including the Canadian Minister of International Development, the Jordanian Minister of Planning and International Cooperation, the Kuwaiti Minister of Finance, alongside leaders of sovereign and independent investment funds in Sweden and Norway, and officials from the Japan International Cooperation Agency (JICA), to explore ways to enhance joint cooperation and expand the foreign investment base in the Egyptian market.
During his participation in events and panel discussions, Dr. Ahmed Rostom highlighted the most prominent positive indicators of the Egyptian economy, explaining the tangible improvement observed at the end of the last fiscal year thanks to the package of structural and horizontal measures and reforms undertaken by the state to mitigate the impact of geopolitical challenges as well as regional and international tensions.
The Minister emphasized that the government is currently working—through integrated efforts among various state agencies—to implement the “National Economic Transformation Program.” This program aims to consolidate macroeconomic stability and shift toward a growth model based on increasing production and investment, ensuring that the fruits of development are directly reflected in the standard of living of citizens and establishing a sustainable vision for the coming years.
Regarding innovative financing mechanisms, the Minister explained that the talks paid special attention to developing the “Infrastructure Project Financing Guarantee Mechanism” in partnership with the World Bank Group. This mechanism aims to reduce investment risks for the private sector, mobilize capital, and provide long-term local currency financing solutions. It is set to direct support toward national priority projects in the fields of water sustainability, renewable energy, green transportation, and industrial infrastructure, thereby contributing to enhancing the efficiency of public spending and alleviating financial burdens and pressures on the state budget.
The sessions also witnessed the Minister's participation in extensive discussions on current global economic challenges and mechanisms to address food security disruptions resulting from tensions in vital maritime corridors. The Minister reviewed Egypt's vision for investing in human capital, developing skills, and aligning educational and training outcomes with labor market requirements, with a focus on artificial intelligence applications and modern technology to prepare qualified personnel for the digitalization of the economy.
The Minister of Planning and Economic Development concluded his statement by emphasizing the depth of comprehensive relations with international financing institutions and regional development banks, primarily the Arab Bank for Economic Development in Africa, to mobilize joint financing and technical expertise. He expressed the importance of activating continental and regional free trade agreements to facilitate capital movement and build integrated, robust regional value chains that enhance the region's competitiveness in the global economy.
