Egypt’s Planning Minister Discusses World Bank Financing Mechanism and Norway Cooperation

Egypt–World Bank dialogue on financing

Egypt’s Minister of Planning and Economic Development, Ahmed Rostom, held talks with Anshula Kant, Managing Director and Chief Financial Officer of the World Bank Group, on the margins of his participation in the intensive programme of events that accompanied the annual meetings of the World Bank Group and the International Monetary Fund in Bangkok, Thailand. The meeting aimed to explore cooperation opportunities and reinforce the development partnership between Egypt and the World Bank.

During the discussion, Rostom outlined key indicators of Egypt’s economic performance, noting that the economy has become more capable of absorbing external shocks and continues to register positive growth even amid a complex global environment and regional geopolitical strains.

He then presented the core elements of the national economic transformation programme devised by the Egyptian government, which seeks to consolidate macro‑economic stability, build on the gains from recent structural reforms, and stimulate investment and production.

The conversation also covered the implementation steps for an infrastructure project financing guarantee mechanism currently being developed in partnership with the World Bank.

Rostom underscored the significance of the mechanism, calling it a qualitative step forward that could draw private capital and offer innovative, long‑term financing in local currency. He said that activating it would lower investment risks for the private sector, improve the efficiency of public spending, relieve budgetary financing pressures and contribute to the sustainability of infrastructure projects.

Egypt–Norway cooperation talks

Rostom also met with Norway’s Minister of International Development, Åsmund Grøver Aukrust, to discuss ways to deepen Egypt‑Norway cooperation; the meeting was attended by Foreign Minister Badr Abdelatty.

“Egypt was committed to strengthening bilateral relations with Norway and building on the cooperation and partnership between the two countries to support development efforts and advance their shared interests.”

“He noted that Egypt attached considerable importance to strengthening partnerships with international development partners to mobilise the resources and expertise needed to support national development priorities.”

“Cooperation with Norway, he added, presented an important opportunity to explore new areas of joint work, particularly in light of global economic and development challenges.”

“For his part, the Norwegian minister praised the proposed mechanism and expressed Norway’s interest in learning more about its details and potential applications.”

“He affirmed his country’s readiness to explore opportunities to participate in the initiative, supporting efforts to increase investment in infrastructure projects and opening new avenues for development cooperation between Egypt and Norway.”