World Bank Group Egypt Country Partnership Framework 2015-2019
The World Bank Group in partnership with Egypt working on poverty reduction and shared prosperity goals through various financial and technical support initiatives. The organization aims to integrate Egypt into the global economy for sustainable growth and poverty reduction.
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World Bank Group Egypt Country Partnership Framework 2015-2019
The World Bank Group ICSID IFC IBRD IDA MIGA International Center for Settlement of Investment Disputes International Bank for Reconstruction and Development International Finance Corporation International Development Association Multilateral Investment and Guarantee Agency Guarantees cross border private sector investments against non- commercial (political) risks Solutions in private sector development Loans to middle- income and credit-worthy low-income country governments Interest-free loans and grants to governments of poorest countries Conciliation and arbitration of investment disputes 2 2
Twin Goals of the World Bank Group Ending Extreme Poverty Increased incomes for bottom 40% of every developing country Boosting Shared Prosperity From 18% to 3% of world population by 2030 An Unprecedented Opportunity: Ending Extreme Poverty in One Generation 3 3 3
Differences between the WBG and IMF The World Bank Group The International Monetary Fund A source of financing and technical support only for developing economies and those countries in transition All member countries can benefit from services and resources of the IMF Addresses long-term challenges Seeks to integrate countries into the world economy to improve sustainable growth and reduce poverty Invests in particular sectors in the economy of borrowing countries Addresses short terms challenges Encourages international monetary cooperation and ensures a stable world financial system 4
Ownership of The World Bank Group Member countries 187 member countries nominate their Governors Board of Governors The Governors delegate specific tasks to the Board of Directors The Board of Directors makes decisions on IBRD loans and IDA credits, and establishes policies that guide the operation of the institution. Board of Directors President The President responds to the advice of the Board. He is responsible for general World Bank Group management. Staff 10,000 staff in 130 offices around the world 5
Voting Shares of the 187 Member Countries Saudi Arabia 3% Russia 3% China 3% United Kingdom 4% France 4% Germany 5% Japan 8% Rest of the world 55% United States 16% 6
Representation of Egypt Governor: His Excellency Dr. Ashraf El-Araby, Minister of Planning and International Cooperation Executive Director: Dr. Merza Hussain Hasan (Kuwait) Alternate Executive Director: Dr. Karim Wissa (Egypt) 7
IBRD Instruments 1. Financing Investment Operations Program For Results (P4R) Development Policy Operations 2. Analytical and Advisory Services Economic and Sector Work Technical Assistance Reimbursable Advisory Services 8
IFC Instruments 1. Investment Services Loans Equity Trade finance Syndications Securitized finance Risk management Blended finance Advisory Services Access to finance Investment Climate Sustainable Business Public-Private Partnerships IFC Asset Management Company Wholly owned subsidiary of IFC Private equity fund manager Invests third-party capital alongside IFC 2. 3. 9
MIGA Instruments 1. MIGA political risk insurance guarantees Mitigate perceived political risks Support projects with positive development impact Manage environmental and social risks Mobilize and complement insurance capacity from other public and private insurers Access funding and lower borrowing costs 2. Risks covered Currency inconvertibility and transfer restriction Expropriation War and civil disturbance Breach of contract Non-honoring of sovereign financial obligations 10
The World Bank Group Program in Egypt Current Operations 11
Current Portfolio of IBRD Investments US$ 4.92 billion, including major Trust Funds 25 Projects in the following sectors: 6% Energy & Environment 13% 45% Finance & Private Sector Development (FPD) Transport 18% Water & Agriculture 18% Human Development 12
Ongoing IBRD Investment Operations Sector: Project Name: Amount: Approval: Ain Sokhna Power Project Giza North Power Project Wind Power Development Project Helwan South Power Project Natural Gas Connections Project Second Pollution Abatement Project $ 600 M $ 840 M $ 70 M $ 585 M $ 75 M $ 20 M 1/29/2009 6/8/2010 6/15/2010 6/27/2013 1/24/2008 3/23/2006 Energy and Environment Affordable Mortgage Finance Project Enhancing Access to Finance for SMEs Promoting Innovation for Inclusive Financial Access $ 300 M $ 300 M $ 300 M 9/24/2009 3/9/2010 4/1/2014 Financial Sector Railways Restructuring Project Cairo Airport Development Project 2 $ 600 M $ 208 M 3/17/2009 2/23/2010 Transport Integrated Sewerage and Sanitation Infrastructure Project 1 Integrated Sewerage and Sanitation Infrastructure Project 2 National Drainage Project Farm Level Irrigation Modernization Project Integrated Irrigation Improvement & Management Project $ 120 M $ 200 M $ 600 M $ 100 M $ 120 M 3/20/2008 6/30/2011 6/15/2000 12/14/2010 5/3/2005 Water and agriculture Early Childhood Education Enhancement Project Emergency Labor Intensive Investment Project Health Insurance Systems Development $ 20 M $ 200 M $ 75 M 2/15/2005 6/28/2012 12/22/2009 Social Sectors 13
IFC Investments Between FY11-FY14, IFC committed over US$1 billion in 17 projects (of which US$303 million is mobilization). IFC has a total portfolio of around US$1 billion in 34 projects as of December 2013, the largest in MENA region. IFC investments include: Financial markets, chemicals, oil and gas, agribusiness, manufacturing and health care sectors. IFC has a large program of Advisory Activities to complement its investment program. These include corporate governance, simplification of business start up procedures and building permits, facilitating SMEs, introducing mediation and providing transaction advice for public-private partnerships (PPPs) in health, education, and infrastructure. 14
MIGA Guarantees In FY2013, MIGA issued a guarantee for US$150 million, reinsuring the United States Overseas Private Investment Corporation s coverage to Apache Corporation for the exploration, development and production of crude oil and natural gas helping the supply of energy keep up with the growing domestic demand. Two proposed projects in manufacturing and oil and gas have been disclosed so far in FY2014. 15
Website: http://consultations.worldbank.org/consultation/ egypt-country-partnership-framework-2015-2019 Facebook: WorldBankMiddleEastNorthAfrica Twitter: @WorldBankMENA @HartwigSchafer E-mail: egypt_consultations@worldbank.org
