Energy security and financing climate plans are the top priorities of the spring meetings, with Egyptian participation
Energy security and financing climate plans are the top priorities of the spring meetings with Egyptian participation
Egypt participates inSpring Meetingsof the International Monetary Fund and the World Bank, where these meetings are held in Washington – the American capital – under the slogan “The Path to the Future: Building Resilience and Reshaping Development.”
In which Dr. Rania Al-Mashat participates as “Minister of International Cooperation and Governor of Egypt in the World Bank Group.” She is expected to speak in several discussion sessions, and will also hold a number of bilateral meetings with multilateral and bilateral development partners.
Governors of central banks, ministers of development and finance, and a number of senior private sector officials participate in these meetings. Representatives of civil society organizations also participate, in addition to officials from academic departments. To discuss these issues with global dimensions.
While the Spring Meetings seek to discuss strategies for developing theWorld Bank Group, in order to confront poverty and signs of inequality – in addition to confronting development challenges in the entire world – other topics of importance will also be discussed, including: the obstacles facing the global economy, especially three years after the Corona pandemic, as well as discussing the worsening state of uncertainty due to the Russian-Ukrainian war, In addition to discussing the risks facing the international economy, due to the rise in US interest rates and inflation rates.
Al-Mashat will participate – until the end of these meetings on April 16 – in important dialogue sessions, including: meetings of the Intergovernmental Group of 24 concerned with international monetary affairs and development, and other discussion sessions on the roles of non-profit organizations behind climate ambition. These sessions will also include energy security and financing climate plans, as well as evaluating the role of multilateral development banks in enhancing the role of the private sector and supporting development efforts, whether in the climate field in general or in climate change. Carbon markets in particular, in addition to the Human Capital Project meeting, and the meetings of the Development Committee of the World Bank Group.
In addition to her meetings with multilateral and bilateral development partners, the Minister will hold a number of meetings with the European Investment Bank, the US government, the European Bank for Reconstruction and Development, the World Bank Group, the Climate Investment Funds Foundation, the International Finance Corporation, and the non-profit Rockefeller Foundation, in addition to meetings with representatives of international companies and many relevant parties.
It is worth noting, is the importance of the roadmap that will shed light on the development of the role of the World Bank Group, its resources, and its operations, an importance that comes in parallel with the announcement of the current President of the World Bank Group to submit his resignation on next June 30, after spending 4 years in his position.
Informed sources said: “The spring meetings may witness side talks between officials of the International Monetary Fund and the Egyptian government about reviewing the economic and structural reform program, especially since the Fund’s delegation was scheduled to visit Cairo in mid-March to review the development of Egyptian economic indicators at all levels. The second tranche – this is after reviewing the Fund – is scheduled to be transferred, amounting to $347 million, which is the value of the loan scheduled to be granted to the Egyptian government.”
