Since inception in 1944, the World Bank has expanded from a single institution to a closely associated group of five development institutions: the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), the International Finance Corporation (IFC), the Multilateral Investment Guarantee Agency (MIGA) and the International Centre for Settlement of Investment Disputes (ICSID).
The World Bank mission has evolved from the IBRD as facilitator of post-war reconstruction and development to the present-day mandate of worldwide poverty alleviation.
The World Bank is made up of 189 member countries. They meet once a year at the Annual Meetings of the Boards of Governors of the World Bank Group.
The World Bank offers support for member countries to achieve target development rates in all economic sectors, with considerable importance given to the ICT sector as a major contributor to the process of economic development.
World Bank Group’s current engagement with Egypt is guided by its Country Partnership Framework (CPF) 2015–19, and Performance and Learning Review (PLR), which resulted in the extension of the CPF to 2021, and which focuses on fighting poverty and inequality.
MCIT has received a number of consultations from the World Bank throughout the years in different topics.