Egypt's Minister of International Cooperation Engages in High-Stakes Discussions at IMF, World Bank Spring Meetings

Minister of International Cooperation and Egypt's Governor to the World Bank Group, Dr. Rania Al-Mashat, kicks off her activities today in Washington, DC, as she participates in the 2024 Spring Meetings of the International Monetary Fund (IMF) and the World Bank. The meetings, scheduled from April 15 to 20, aim to address global challenges, explore necessary financial solutions, promote private sector investments, and enhance resilience to future shocks.

Attended by government officials from various countries, governors to the World Bank, private sector representatives, civil society organizations, academics, and other stakeholders, the Spring Meetings will focus on international efforts to enhance cooperation for sustainable development and poverty eradication.

Dr. Rania Al-Mashat emphasized the vital timing of the Spring Meetings amid intertwined global challenges, including geopolitical tensions, climate change, food security threats, and other issues affecting developing economies. She stressed the necessity of a clear global vision to overcome poverty and bolster the role of international financial institutions in supporting developing countries' efforts for development, resilience, and prosperity.

During the meetings, Minister Al-Mashat will engage in discussions on the operational and financial aspects of the World Bank's development and reform roadmap, aimed at enhancing its role in addressing current global situations and developmental challenges. She highlighted the importance of evolving the World Bank's role to target development financing priorities and strengthen climate action.

Additionally, Minister Al-Mashat will participate in various events during the Spring Meetings, including meetings of the Development Committee and the International Monetary and Financial Committee, focusing on coordinating the positions of emerging markets and developing countries on monetary and development financing issues. Moreover, she will join the African Group meeting with the World Bank Group President.

Furthermore, Minister Al-Mashat will attend numerous other sessions on debt-for-climate swaps organized by the IMF and ESCWA, the Peterson Institute for International Economics roundtable on rethinking economic policies, the Atlantic Council session on opportunities and challenges facing the Egyptian economy, a session of the World Economic Council on private sector engagement in climate action, and the United Nations "Generation Unlimited" Global Leadership Council meeting. Additionally, she will hold intensive bilateral meetings with multilateral and bilateral development partners to strengthen collaborative efforts in light of the ministry's ongoing initiatives for socioeconomic development.