World Bank Group launches new partnership framework for Egypt

World Bank Group launches new partnership framework for Egypt

CAIRO: The World Bank Group’s board of executive directors on Wednesday approved a new Country Partnership Framework for Egypt, which lays out a strategy in the country for 2023–2027, Emirates News Agency reported.

The new CPF is in line with Egypt’s Sustainable Development Strategy, Vision 2030, and National Climate Change Strategy 2050. It aims to achieve three high-level outcomes.

First, the framework aims to boost private-sector jobs by fostering an enabling environment for private sector-led investments and job opportunities, as well as by establishing a level playing field for the private sector.

Second, the CPF seeks to improve human capital outcomes by promoting inclusive, equitable, and improved health and education services, as well as effective social protection programs.

Third, it seeks to improve shock resilience through improved macroeconomic management and climate change adaptation and mitigation measures.

“The Country Partnership Framework 2023 -2027 between Egypt and the World Bank Group establishes a new phase of development cooperation and joint action to support efforts in achieving inclusive and sustainable growth. This is anchored in national objectives, the country’s 2030 vision and presidential initiatives,” Dr. Rania Al-Mashat, Egypt’s minister of international cooperation, said.

“Through our extended partnership with the World Bank Group, more work will be done over the