Cairo: Minister of Foreign Affairs, International Cooperation and Egyptian Expatriates Badr Abdelatty on Tuesday, March 3, 2026, praised the strategic partnership with the World Bank (WB) Group and its continued support for Egypt's economic reform program and sustainable development efforts. Abdelatty made the remarks during a meeting with President of the World Bank Group Ajay Banga during his first official visit to Egypt. The talks also focused on ways to further strengthen cooperation between Egypt and the World Bank.
According to State Information Service Egypt, the foreign minister expressed appreciation for the World Bank Group's collaboration and support for Egypt's economic and development priorities. He highlighted the bank's contributions to major national projects and presidential initiatives, foremost among them the 'Decent Life' initiative. Abdelatty reviewed the outcomes of the government's economic and structural reform measures implemented in recent years to enhance macroeconomic stability. He highlighted efforts to meet foreign currency needs through market-based mechanisms, noting that these achievements are reflected in reports by the International Monetary Fund and international credit rating agencies.
He underlined rising foreign exchange reserves, a downward inflation trajectory, and notable growth in several economic sectors. The foreign minister commended the World Bank's continued positive assessments of the Egyptian economy. He underscored the government's commitment to advancing economic and structural reforms, improving the investment climate, and strengthening the confidence of both the business community and international institutions. He highlighted the government's efforts to empower the private sector as a key partner in achieving sustainable development, including enhancing the legislative and investment environment and offering tax and customs incentives, which have contributed to increasing private sector investment in the economy.
He further noted ongoing efforts to update the State Ownership Policy Document to expand the private sector's role in driving economic growth. The minister also praised the World Bank's support for regional energy interconnection projects, emphasizing Egypt's position as a regional energy trade and distribution hub and its aspiration to deepen cooperation with the Bank in this field. For his part, Banga expressed eagerness to enhance frameworks of cooperation and coordination in the coming period in a manner that supports Egypt's development priorities and maximizes the benefits of the longstanding partnership.
The World Bank president also commended Egypt's economic performance amid ongoing regional and international challenges. He praised the government's comprehensive reform package, which has strengthened financial and monetary stability, improved the investment climate, and advanced economic empowerment and social protection initiatives. Banga lauded Egypt's pivotal role as a cornerstone of security and stability in the region and its sustained efforts to promote regional peace and security. He affirmed the Bank's commitment to continuing support for Egypt's development and reform programs and to intensifying technical and financial cooperation, particularly in light of exceptional regional challenges.
The meeting also addressed the humanitarian situation in the Gaza Strip, with Abdelatty reaffirming Egypt's commitment to supporting the Palestinian people in Gaza, enhancing early recovery and reconstruction efforts, and ensuring the provision of basic needs. He underscored Egypt's reliance on the World Bank to continue playing a key role in helping secure dignified and sustainable living conditions for the Palestinian people.