Banga praised Egypt’s ongoing economic reforms and the creation of state-led investment platforms, emphasizing Egypt’s position as a leading partner for the World Bank, highlighting initiatives like the “NWFE” platform, which promotes climate investments in adaptation and mitigation efforts, and the “Hafiz” platform that fosters private sector participation.
The signing took place on Tuesday and underscores both countries' commitment to enhancing trade and investment cooperation, especially as Egypt seeks to address its ongoing economic challenges.
The funding includes six initiatives aimed at enhancing the private sector, she explained during the opening of a mid-term evaluation workshop for the joint country strategy for development cooperation between Egypt and the AfDB, covering the years 2022-2026.
Saudi state media confirmed the Crown Prince's departure for Egypt, though further details about the discussions have not been disclosed.
The two ministers co-chaired the fourth session of the Egyptian-Romanian Joint Committee for Economic, Scientific, and Technical Cooperation in Bucharest, the first since 2019.