Vice President, Middle East & North Africa, Afghanistan & Pakistan (MENAAP) Ousmane Dione said the World Bank Group is entering a new phase of engagement with Egypt focused on deepening development impact and expanding economic opportunities.

 

Speaking at a conference marking 50 years of partnership between Egypt and the International Finance Corporation (IFC), titled “Fifty Years of Impact, in Partnership with Egypt,” Dione described the milestone as reflecting “50 years of progress” and “50 years of success,” adding that cooperation is set to expand further in the coming decades.

 

He noted that Egypt has a longstanding relationship with the World Bank Group, describing it as one of the institution’s founding members. He recalled that the first economic report on Egypt was issued in 1947, when the country’s population stood at around 20 million, compared to more than 100 million today.

 

Dione said the Group—through the World Bank, IFC, and MIGA—is working with Egypt under a unified approach focused on supporting development priorities, advancing reforms, and strengthening private sector participation in economic growth.

 

He stressed that improving the business environment remains central to enabling stronger public-private cooperation and sustaining long-term development momentum.

 

Dione also underlined that human capital is a key pillar of the agenda, saying it is not possible to have “a productive population and a productive labor force” without strong health, education, and social protection systems.

 

He highlighted the importance of Egypt’s social protection programs, including “Takaful and Karama,” in supporting inclusive development and workforce productivity.

 

The World Bank official pointed to Egypt’s growing regional role, saying its engagement across Africa can help unlock wider economic opportunities through trade, investment, and integration.

 

He identified key sectors of focus including energy, logistics, digital infrastructure, agriculture, SMEs, tourism, and manufacturing as central drivers of job creation and economic transformation.

 

Dione added that while development priorities are set by the Egyptian government, the World Bank Group supports implementation through financing, technical expertise, and global best practices.

 

He concluded by reaffirming the Group’s commitment to strengthening cooperation with Egypt and expanding the impact of the partnership in the next phase of engagement.