Egypt, World Bank explore deeper cooperation, partnership opportunities
The discussions focused on opportunities to deepen cooperation and strengthen the partnership between the Ministry of Public Enterprises and the World Bank Group, particularly in the areas of institutional development and attracting investment into state-owned enterprises, aligning with Egypt's broader strategy for inclusive and sustainable development.
At the outset, Minister El-Shimy outlined the ministry's comprehensive strategy for reforming its affiliated companies, aimed at enhancing performance and ensuring long-term sustainability. This strategy is guided by three key frameworks: Egypt's Vision 2030, the government's action programme, and the State Ownership Policy Document.
He emphasised that the ministry's vision seeks to maximise returns on state investments and increase the contribution of affiliated companies to national GDP, while enhancing their competitiveness both domestically and internationally. This is being pursued by modernising management practices, improving operational performance, optimising asset utilisation, and adhering to quality, governance, and sustainability standards.
Attracting and encouraging private sector investment—both local and foreign—remains a central pillar of the ministry's strategy, El-Shimy added. He highlighted the ministry's openness to cooperation and partnerships across a range of sectors, noting the availability of numerous promising investment opportunities in industrial and service activities under its supervision. Several successful partnership models with both local and international private sector players already exist, he noted.
El-Shimy also pointed to efforts to strengthen governance, transparency, and disclosure within affiliated companies, alongside a commitment to environmental sustainability and moving towards a green economy. This is reflected in various projects that comply with international environmental standards. Effective asset management and maximising returns remain key objectives of the ministry's reform agenda, he stressed.
Investing in human capital is another top priority, El-Shimy noted, with the ministry implementing specialised training programmes to enhance employee skills and efficiency. He also highlighted the rollout of Enterprise Resource Planning (ERP) systems across several affiliated companies as part of the drive for digital transformation and improved governance.
For their part, the World Bank Group delegation praised the ministry's reform strategy, its engagement with the private sector, and its commitment to institutional development and sustainable growth. They reaffirmed the World Bank Group's readiness to support the ministry and its affiliated companies through technical expertise and investment cooperation.
© 2024 Daily News Egypt. Provided by SyndiGate Media Inc. (Syndigate.info).
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
5 hours ago
- Zawya
Sudan: Life-saving aid must reach the people caught between the rains and conflict
Following the start of the rainy season in Sudan's North Darfur region, Amnesty International's Director for East and Southern Africa, Tigere Chagutah said: 'The rainy season is a terrifying prospect for many Sudanese who have fled fighting in North Darfur between armed groups. Internally displaced persons and refugees have told Amnesty International that they fear the coming rains will heighten the risk of diseases and make already dire conditions in their areas even worse. They are desperate for food, including seeds to plant ahead of the rains, water and medical services. Adequate shelter also remains a major concern. One 90-year-old woman told us that she didn't have any proper shelter and was living under the trees. Others are in similar situations. 'Sudan is the world's largest displacement and humanitarian crisis, yet the humanitarian response for 2025 is grossly underfunded. This will go down in history as an abject failure unless Sudan's international partners rise to the occasion and increase emergency funding for the humanitarian response in Sudan, as well as for Sudanese refugees. 'To stop this humanitarian emergency from spiraling further, parties to the armed conflict must facilitate rapid, unconditional and safe access to humanitarian aid, and end all attacks on humanitarian objects and personnel. 'Sudan is the world's largest displacement and humanitarian crisis, yet the humanitarian response for 2025 is grossly underfunded. This will go down in history as an abject failure unless Sudan's international partners rise to the occasion and increase emergency funding for the humanitarian response in Sudan, as well as for Sudanese refugees. More must be done to save lives. The international community cannot afford to look away.' Background Since the latest armed conflict broke out in Sudan in April 2023, over 11 million people have fled their homes. Displaced persons live in dire conditions in Sudan, including in Darfur, one of the regions most severely affected by fighting, as well as other countries. Cases of cholera outbreak are already being reported in North Darfur. Parties to the conflict continue to impede humanitarian access and attack humanitarian objects and personnel. Diplomatic efforts have so far failed to ensure sufficient humanitarian aid to a suffering population. The rainy season in Darfur typically lasts from June to September. In April, MSF already warned that the rainy season threatened to worsen the ongoing malnutrition crisis. In August 2024, the UN confirmed famine conditions in Zamzam camp and identified 13 other areas at risk of famine. Distributed by APO Group on behalf of Amnesty International.
Zawya
5 hours ago
- Zawya
Morocco: His Majesty the King Extends Condolences to Nigerian President Over Passing of Former president Muhammadu Buhari
His Majesty King Mohammed VI has sent a message of condolence and sympathy to the President of the Federal Republic of Nigeria, Bola Ahmed Tinubu, following the passing of former president Muhammadu Buhari. In this message, HM the King expresses His deep sorrow upon learning of the passing of former president Muhammadu Buhari, may he rest in peace. On this sad occasion, the Sovereign conveys His heartfelt condolences and deepest sympathy to the Nigerian president, the grieving family as well as the people of the sister nation upon the loss of an illustrious son, who worked untringinly to serve his country's best interests and lead his people towards further progress and prosperity. "Our thoughts and prayers are with you and the bereaved." "I share your grief and want you to know how much I appreciated the working sessions I had with the deceased. They culminated in the launch of promising development projects that have ushered a new era grounded in friendship and close cooperation between our two sister nations," HM the King concludes. Distributed by APO Group on behalf of Kingdom of Morocco - Ministry of Foreign Affairs, African Cooperation and Moroccan Expatriates.
Zawya
6 hours ago
- Zawya
African Development Bank Approves $62 Million Emergency Grant to Restore Critical Services in Conflict-Affected Sudan
The Board of Directors of the African Development Bank Group ( has approved a $62.13 million emergency grant to support the Sudan Integrated Social Sector Infrastructure Rehabilitation Project (SISSIRP). This vital support aims to restore essential health, education, and water services that have been severely disrupted by the ongoing civil conflict in Sudan, which erupted in 2023. The funding package, approved on 11 July 2025, comprises $44.57 million from Pillar 1 of the Transition Support Facility and $17.56 million from the African Development Fund, the Bank's concessional financing window for low-income countries. Sudan is currently facing one of the world's gravest humanitarian crises. An estimated 30.6 million people are in urgent need of assistance, including 11.5 million internally displaced persons, 54% of whom are women. The conflict has devastated critical infrastructure and services across the country, leaving healthcare facilities, schools, and water systems destroyed. This breakdown has deepened poverty, widened inequalities, and significantly limited access to basic services, particularly in conflict-affected areas. Commenting on the project, Mary Monyau, the Bank's Country Manager for Sudan, highlighted the initiative's importance: 'This project is a crucial step towards rebuilding lives and livelihoods. By restoring access to clean water, healthcare, and essential infrastructure, we are not only addressing immediate humanitarian needs but also laying the foundation for long-term resilience and development.' The two-year project (2025-2027) will focus on four Sudanese states-- Aj Jazira, River Nile, Sennar, and White Nile – and is designed to improve the resilience and well-being of the population by rehabilitating and strengthening social sector services. The SISSIRP is structured around three core components: Strengthening Social Infrastructure and Systems: Rehabilitation of key education, health, and WASH (water, sanitation, and hygiene) facilities to ensure continued access to safe drinking water and essential public services. Capacity Development and Community Engagement: Strengthening the capacities of individuals, institutions, and communities to manage and sustain the delivery of social services and infrastructure. Governance and Implementation Support: Ensuring transparent, accountable, and effective project implementation with robust monitoring and mechanisms to guarantee equitable access for targeted beneficiaries. The initiative aligns with the Bank's extended Country Brief for Sudan. It also supports the Bank's Ten-Year Strategy (2024–2033) and contributes directly to one of its key "High 5" priorities, ' Improve the Quality of Life for the People of Africa.' It further aligns with sub-themes including access to basic drinking water services, coverage of essential health services, and youth inclusion in employment, education, and training. Distributed by APO Group on behalf of African Development Bank Group (AfDB).
