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Cabinet officials

Rania Al-Mashat to Attend 2022 Annual Meetings of IMF and WBG in Washington

Strategic Insights

— 1 min read

Rania Al-Mashat, Minister of International Cooperation and Governor of Egypt at the World Bank Group, has traveled to Washington to participate in the 2022 Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG), scheduled to take place from October 10 to 16 under the theme "Unity in a Time of Crises." As one of Egypt's largest multilateral development partners, Al-Mashat will engage in a variety of events aimed at accelerating the Sustainable Development Goals (SDGs) and enhancing efforts towards the green transition, particularly in light of COP27 in Sharm El-Sheikh. Her participation includes the Intergovernmental G24 Ministers and Governors Annual Meeting, the Global Food Security Symposium, and the World Economic Forum's Digital Payments Executive Roundtable.

Key Takeaways:

  • The 2022 Annual Meetings of the IMF and WBG will focus on the overlapping crises affecting development efforts, aiming to build resilience and mitigate the impact of future challenges.
  • Egypt has a development cooperation portfolio with the WBG comprising 14 ongoing projects worth $6.8 billion, as well as 23 projects with technical support and consultancy.
  • Al-Mashat will participate in several events organized by development partners and the private sector, including the International Finance Corporation (IFC), the European Investment Bank (EIB), Amazon Web Services, and the Rockefeller Foundation.
  • The minister will hold bilateral meetings with key officials, including the IFC's Regional Vice President for Africa and the WBG's Vice President for Sustainable Development Practice Group.
  • A $400 million development financing agreement has been approved to develop sustainable infrastructure in Egypt's transport sector, supporting the transition towards low-carbon transport.
  • An additional $500 million is allocated for food security.
  • The World Bank Group has reaffirmed its commitment to supporting Egypt's development priorities.

Statistics:

  • 14 ongoing projects worth $6.8 billion: Egypt's development cooperation portfolio with the WBG.
  • 23 projects with technical support and consultancy: Egypt's development cooperation portfolio with the WBG.
  • $400 million: Development financing agreement approved for sustainable infrastructure in Egypt's transport sector.
  • $500 million: Additional funding allocated for food security.
  • 2022: Year of the IMF and WBG Annual Meetings in Washington.
  • 10-16 October: Dates of the 2022 IMF and WBG Annual Meetings.

Sources:

  • Rania Al-Mashat, Minister of International Cooperation and Governor of Egypt at the World Bank Group (Associated Press).
  • The World Bank Group's website.
  • Daily News Egypt (2022).
  • Syndigate Media Inc. (Syndigate.info).

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