Prime Minister Dr. Mostafa Madbouly affirmed the government’s keenness to implement the state ownership policy document, which paves the way for a comprehensive reform of state-owned institutions in Egypt, in order to create a greater space for investments for the private sector, and more efficient management of public resources.
This came during the meeting held by the Prime Minister, Monday evening, with World Bank officials; To discuss ways to support governance management of state-owned companies.
The meeting was attended by Dr. Rania Al-Mashat, Minister of International Cooperation, Governor of Egypt at the World Bank, Stefan Gimbert, Regional Director of the World Bank in Egypt, and Peter Ladgaard, Regulatory Policy and Management Officer. For governance practices at the World Bank, Ahmed Kajouk, Deputy Minister of Finance for Financial Policies, Mark Ahern, Economic File Officer at the World Bank in the Egypt Office, and Sherif Hamdy, Senior Operations Officer at the World Bank in the Egypt Office.
Dr. Rania Al-Mashat explained the importance of Cooperating with the World Bank in order 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 government companies; With the aim of improving its financial conditions and raising its degree of competitiveness.
The Minister of International Cooperation expressed her aspiration for continued cooperation between the two sides, especially in light of the success witnessed in the process of implementing the state ownership policy document and the proposals program during the last period.
In turn, Stephane Gimbert 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.
Ladgard also reviewed, during the meeting, a number of proposals. And ideas that would support the governance of state-owned companies, explaining that they would ensure greater success of the state ownership policy document.
At the conclusion of the meeting, the Prime Minister expressed the Egyptian government’s aspiration for more aspects of cooperation with the World Bank, Within the framework of managing state-owned companies, and working to raise their efficiency, in order to achieve the desired goals.