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World Bank affirms confidence in Egypts economic reform measures
The World Bank is confident in Egypts economic reform measures, the banks CEO Kristalina Georgieva, announced yesterday, Reuters reports.
The World Bank is keen on continuing to support and assist Egypt during the implementation of the nation-wide economic and social reform programme, and to help the Egyptian government attract inward foreign investments, Georgieva said during her meeting with the Egyptian investment and international cooperation minister, Sahar Nasr.
During the meeting, the two officials discussed WBs support to Egypt in a number of priority sectors, including the development of the countrys Sinai Peninsula, infrastructure projects, transport and agriculture.
Last month, WB said in a report that Egypt had begun to reap the benefits of what it described as the countrys transformative economic reform programme. The bank added that it was expecting Egypts public debt to decline for the first time in a decade.
The international bank called on the Egyptian government to allow private investments in infrastructure and to invest in education, health care, and social protection sectors.
WB has been providing Egypt with the technical and financial support to help reduce poverty and promote prosperity. The banks support focuses on social safety, energy, transportation, rural water and sanitation, irrigation, social housing, health care, job creation, and funding Small and Medium Enterprises (SMEs).
WBs portfolio of investments in Egypt currently consists of 16 projects with total lending commitments of $6.69 billion. Source: Middle East Monitor

Time Added: 2019-01-23 12:55:24
Source: arabfinance
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