Sisi meets World Bank chief as Egypt pushes economic reforms amid regional tensions

Egyptian President Abdel Fattah El-Sisi met on Monday with Ajay Banga, President of the World Bank Group, in a high-level discussion aimed at strengthening development partnerships and advancing Cairo’s economic reform agenda.

The meeting, attended by senior ministers and World Bank officials, highlighted Egypt’s determination to advance economic reforms and development projects at home, even as regional instability casts a shadow over the country’s growth prospects.

President El-Sisi highlighted steps the government has taken to stabilise the economy, including controlling inflation, managing public debt, safeguarding the foreign exchange market, and promoting private sector growth. He also emphasised social programmes such as Hayah Karima and Takaful and Karama, which aim to improve living standards, reduce youth unemployment, and meet the country’s Sustainable Development Goals by 2030.

For the World Bank, the visit represented an opportunity to reinforce its decades-long partnership with Egypt, supporting projects in health, education, social protection, food security, and climate resilience. Banga praised Egypt’s reform measures and its efforts to attract foreign investment, highlighting the country’s growing role in regional economic development.

The leaders also discussed the impact of regional tensions on Egypt’s economy and security. Sisi underscored Egypt’s commitment to resolving regional conflicts through peaceful means. He warned that ongoing instability could disrupt Red Sea navigation, push up energy prices, and drain Suez Canal revenues—which have fallen by nearly $10 billion in recent years due to the Israeli war in Gaza—while straining the country’s resources as it hosts millions of displaced people from regional crises.

The meeting underscores Egypt’s dual strategy: implementing ambitious domestic reforms to stabilise the economy while leveraging international partnerships to navigate regional risks. By aligning development projects with economic reform and social initiatives, Cairo aims to create a more resilient economic model that can withstand both internal and external pressures.

Attribution: Amwal Al Ghad English