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Country Director for Egypt, Yemen, and Djibouti, Middle East, and North Africa, of World Bank Stephane Guimbert, confirmed that the World Bank is providing Egypt with technical and financial support until the state ownership policy document is implemented, in a way that enhances the governance of state-owned companies.
Egypt’s Prime Minister Mostafa Madbouly stressed his government’s keenness to implement The State Ownership Policy Document and cooperate with the World Bank to achieve this objective. Recently, he met with World Bank officials along with Minister of International Cooperation, Rania Al Mashat to discuss this matter and to evolve steps to take it forward.
Madbouly stressed that the policy document would pave the way for a comprehensive reform of state-owned institutions in Egypt, to create a greater area of investment for the private sector, and their more efficient management of public resources.
During the meeting, Al Mashat explained the importance of cooperation with the World Bank to maximize the role of the private sector in the field of investment, noting that one aspect of cooperation includes implementing the State Ownership Policy Document, through governance and regulation of the work of the state-owned companies.
Country Director for Egypt, Yemen, and Djibouti, Middle East, and North Africa, of World Bank Stephane Guimbert, confirmed that the World Bank is providing Egypt with technical and financial support until the state ownership policy document is implemented, in a way that enhances the governance of state-owned companies.
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