Egypt and the World Bank have discussed strengthening cooperation to support the country's economic development, with the bank proposing that Egypt join a new global health initiative, the planning ministry said on Tuesday. The proposal was made during a meeting between Minister of Planning, Economic Development, and International Cooperation, Rania Al-Mashat, and the World Bank's Regional Director for Egypt, Yemen, and Djibouti, Stephane Guimbert. According to a ministry statement, Guimbert presented an overview of a new World Bank-led global health initiative that aims to expand basic health coverage to an additional 1.5 billion people in middle- and low-income countries. He raised the idea of Egypt joining as a key participant, citing the country's significant progress in health sector reforms, particularly the implementation of its Universal Health Insurance system, which is one of the largest social protection projects in the region. For her part, Al-Mashat emphasized the importance of the partnership with the World Bank Group as a "knowledge partner" to the Egyptian government. She highlighted joint efforts to develop a comprehensive implementation plan to achieve economic development, support macroeconomic stability, promote industrial development, mobilise foreign direct investment (FDI), and increase investment in human capital. The minister also outlined the government's national narrative for economic development, a framework which she said aims to create a unified development discourse. Its pillars include preparing a National Strategy for Industrial Development to increase exports, enhancing the value-added of manufacturing, expanding the green economy's contribution to GDP, and promoting investment in human capital. The meeting also covered updates on the World Bank's existing portfolio in Egypt, including the Universal Health Insurance Project, the Sustainable Rural Sanitation Services Programme, the Takaful and Karama social safety net programme, the Upper Egypt Local Development Program, and the Cairo-Alexandria Trade Logistics Development Project.
