The World Bank Group has announced new parameters for partnership with Egypt
According to Emirates
News Agency, the World Bank Group's board of executive directors approved a new
Country Partnership Framework for Egypt on Wednesday. The document outlines
Egypt's strategy for the years 2023 to 2027.
The new CPF is
consistent with Egypt's 2030 Vision, National Climate Change Policy, and
Sustainable Development Strategy. It seeks to accomplish three high-level
goals.
The framework's first
goal is to increase the number of employment in the private sector by creating
a favorable environment for private sector-led investments and job prospects as
well as by leveling the playing field for the private sector.
Second, the CPF
promotes inclusive, equitable, and enhanced health and education services as
well as successful social protection programs in order to increase human
capital outcomes.
Thirdly, it aims to
increase shock resilience by enhancing macroeconomic management and
implementing adaptation and mitigation strategies for climate change.
“The National
Partnership Framework between Egypt and the World Bank Group for the years
2023–2027 opens a new phase of development cooperation and collaborative action
to support initiatives to achieve equitable and sustainable growth. The
country's 2030 vision, national goals, and presidential initiatives are the
foundation for this,” according to Egypt's minister of foreign cooperation, Dr.
Rania Al-Mashat.
"This CPF helps
Egypt's efforts to build back better by enabling conditions for green,
resilient, and inclusive development," said Marina Wes, the World Bank's
country director for Egypt, Yemen, and Djibouti. It centers its strategy on the
Egyptian people and prioritizes employment growth by enhancing the business
climate and leveling the playing field.
Through enhancing
regional commerce and boosting connectivity in the areas of infrastructure,
transportation, energy, and labor, the CPF also seeks to increase Egypt's
position in regional integration.
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