Egypt, World Bank discuss cooperation on J-CAP

Egypt’s Minister of Planning, Economic Development, and International Cooperation, Rania Al Mashat, held talks with a joint delegation from the World Bank (WB) and the International Finance Corporation (IFC) to discuss collaboration under the Joint Capital Markets Programme (J-CAP), according to a Cabinet statement.

Al Mashat emphasised Egypt’s commitment to expanding its capital markets, highlighting government-led initiatives such as the launch of Africa’s first voluntary carbon market in August 2024, supported by the World Bank, and the issuance of the Middle East and North Africa’s first sovereign green bonds in 2020.

She underscored the potential of J-CAP to enhance Egypt’s financial landscape, particularly in strengthening the local debt market, broadening the investor base, and facilitating access to financing for small and medium-sized enterprises.

The discussions also covered efforts to position Egypt’s carbon market as a regional hub, develop corporate bond markets, and explore blended finance instruments to support sustainable development and public-private partnerships.

Attribution: Amwal Al Ghad English

Subediting: M. S. Salama