Friday, 09 October 2026
World Bank praises Egypt’s economic reforms amid regional challenges
Egyptian Foreign Minister Badr Abdelatty met World Bank President Ajay Banga in New York on Tuesday to discuss strengthening cooperation between Cairo and the international lender, the ministry said.
Abdelatty, who is also Egypt’s governor at the World Bank, held the talks on the sidelines of the high-level segment of the 81st session of the United Nations General Assembly.
The minister praised close co-ordination between Egypt and the World Bank, particularly following the completion of the second phase of a Development Policy Financing programme. He said Cairo looked forward to completing the programme’s third and final phase.
Abdelatty also welcomed the bank’s support for Egypt’s economic reform and sustainable development efforts, including national projects and the “Decent Life” initiative aimed at improving living conditions in rural areas.
He said Egypt remained committed to implementing its economic reform programme to achieve inclusive and sustainable growth, and highlighted efforts to expand the state’s privatisation and public offering programme.
Empowering the private sector and creating an attractive investment environment were key priorities, Abdelatty said, describing the private sector as the main driver of economic growth.
The two officials also discussed the impact of escalating military tensions in the region on the global economy. Abdelatty said Egypt’s economy had shown resilience thanks to structural and monetary reforms carried out in recent years.
He said the government was working to strengthen the economy’s ability to withstand regional shocks, including by ensuring reliable supplies of energy and essential commodities.
Banga praised the strong relationship between Egypt and the World Bank and commended the country’s economic performance despite ongoing regional and international challenges.
He also welcomed the reforms implemented by the Egyptian government, saying they had helped strengthen financial and monetary stability, improve the investment climate and support economic empowerment and social protection.
Banga additionally praised Egypt’s regional and international role in promoting stability and development, describing it as a key partner in addressing shared challenges and advancing sustainable development.