Middle East: Dr Rania Al-Mashat – the Minister of International Cooperation and Governor of Egypt at the World Bank Group, attended a meeting with the Assistant Secretary of the US Treasury for International Trade and Development, Alexia Laturto. The meeting was held to discuss mechanisms to strengthen the role of the World Bank in supporting developing countries and implementing the “Noufi” program.
According to the shared updates, the meeting was held on the sidelines of the World Bank and International Monetary Fund (IMF) Spring Meetings in Washington DC, United States of America. Both leaders participated in the events to discuss mutual concerns along with seeking the support of the World Bank Group in national matters.
In addition, the meeting discussed the details related to the American vision on mechanisms for developing the World Bank Group and magnifying the role of development cooperation in supporting developing countries and emerging economies.
Furthermore, in this regard, the Minister of International Cooperation, Rania Al Mashat, emphasized the importance of the role of the World Bank and the multilateral development banks in providing facilitating development financing to support emerging countries.
It was further cited that during the meeting, the importance of reflecting reforms on the demands of developing countries, especially the middle-income and least-developed countries, are being discussed to strengthen efforts to persevere in the face of complex challenges facing the global economy and its impact on the economies of the region and the African continent.
“The meeting also discussed ways of coordination in the field of climate work and achieving funding justice,” added the minister. In a different context, the research of the aspects, and the ongoing procedures for implementing the National Platform for Green Projects, the “Noufi” program, were also discussed.
The program will strengthen the state efforts in the field of green transformation under the umbrella of the National Strategy for Climate Change 2050 and the mechanisms of the implementation of the Joint Political Announcement issued by Egypt, the United States and Germany during the COP27 Climate Conference, to support the energy axis within the program.
Notably, Dr Rania Al-Mashat, Minister of International Cooperation and Governor of Egypt at the World Bank Group, participate in the spring meetings of the World Bank and IMF Road to the Future. Building resilience and reshaping development,” with the participation of central bank governors, finance and development ministers, senior private sector officials and representatives of Civil society organizations and academic environments, to discuss issues of global interest.