CAIRO, April 29 (MENA) - Prime Minister Mostafa Madbouly has issued directives to form of a working group to prepare the file of Egypt’s official bid to host Annual Meetings of the World Bank Group (WBG) and the International Monetary Fund (IMF) in 2029.

This came during a meeting he had Tuesday at the government headquarters in the New Administrative Capital to address the coordination of efforts and necessary preparations for submitting Egypt’s bid to host the 2029 Annual Meetings of the IMF and World Bank Group. The meeting was attended by Governor of the Central Bank of Egypt Hassan Abdalla, Minister of Planning, Economic Development and International Cooperation Rania Al-Mashat, Finance Minister Ahmed Kouchouk and a number of other officials.

During the meeting, Mashat explained that the World Bank Group and the International Monetary Fund have historically been keen to hold their Annual Meetings jointly. She added that since 1953, the Board of Governors of both institutions has decided—out of concern for efficiency and preserving their international position—to convene these meetings outside Washington, D.C., once every three years.

The minister noted that Egypt had formally submitted a request in April to host the 2029 Annual Meetings of the WBG and the IMF.

She pointed out that the Annual Meetings typically take place in October and are attended by around 12,000 participants, including ministers of finance and international cooperation, central bank governors, financial institutions, civil society organizations, academics, and media representatives from 190 countries.

She further added that over the course of the usual Annual Meetings week, more than 1,000 official and bilateral meetings and events are held, in addition to seminars and press conferences addressing global economic issues.

Mashat said that to ensure the success of the meetings, the IMF and World Bank teams work closely with the host country to assess facilities, transportation, visa processes, and other logistics, in accordance with a guide developed based on previous hosting experiences.
(MENA)
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