A meeting between Hafez Ghanem, the World Bank vice president for the Middle East, and Egyptian Minister of Investment and International Cooperation Sahar Nasr took place on Wednesday in the US capital, Washington.
The minister discussed with the leaders of the World Bank the activation of the agreement reached during the meeting of Al-Sisi with Jim Yong Kim, president of the World Bank Group, with regards to improving the levels of cooperation between the two sides, strengthening the role of the private sector, and supporting Egypt’s efforts to attract more foreign direct investments.
Moreover, they agreed to provide the necessary support to advance the role of the private sector in the process of economic and social development in Egypt, as well as the strengthening of the role of the bank in improving Egypt’s investment climate and ensuring the sustainability of the process of national development.
The two sides discussed ways and means the World Bank is contributing to improving microfinance in Egypt. They also discussed ways of increasing opportunities for investment and employment for women and youth, as well as promoting an entrepreneurial culture.
The minister reviewed with senior officials of the World Bank various development projects of the World Bank in Egypt, especially in the sectors of health, education, and energy, where they agreed that a number of World Bank officials visit Egypt during the coming weeks to follow up on the existing projects and discuss a number of new projects commensurate with the development priorities of Egypt.