Egypt seeks to expand World Bank partnership to support sustainable growth

Egyptian Prime Minister Mostafa Madbouly has expressed the government's strong appreciation for the World Bank Group's support and signaled a desire for enhanced cooperation to bolster sustainable development and economic resilience. During a meeting with World Bank Managing Director and Chief Knowledge Officer Paschal Donohoe on Tuesday, July 14, 2026, Madbouly highlighted the importance of deepening the partnership to advance Egypt's development goals.

The discussions centered on expanding collaboration in key sectors crucial for Egypt's economic progress. Madbouly voiced optimism about building on the positive outcomes of World Bank Group President Ajay Banga's visit in March 2026, aiming to increase cooperation in areas such as health, water, energy, tourism, food security, manufacturing, agriculture, digital transformation, and artificial intelligence.

Madbouly reviewed the progress of Egypt's economic and structural reform program, asserting that government reforms have boosted the economy's competitiveness, empowered the private sector, and fostered job creation. He also praised the ongoing collaboration on Egypt's National Foreign Direct Investment Strategy and the preparation of the Business Ready (B-READY) report, which assesses the investment climate.

Furthermore, the prime minister emphasized the critical role of Micro, Small, and Medium Enterprises (MSMEs) in driving economic growth and job creation. Egypt seeks to leverage the World Bank's technical expertise in formulating a restructuring plan for the MSME Development Agency (MSMEDA) to streamline financing and licensing. The government also reaffirmed its commitment to strengthening cooperation in digital transformation and artificial intelligence, recognizing the digital economy's growing contribution to GDP.