WB head praises Egypt’s reform measures in meeting with Sisi

CAIRO– 21 September 2017: President of the World Bank (WB), Jim Yong Kim, praised Egypt’s reform measures in terms of addressing the economy’s structural problems and improving the business environment.

This came during his meeting with President Abdel-Fatah al-Sisi Thursday in New York, according to a statement from the presidency.

Kim said that the bank will continue to execute and develop cooperation programs with Egypt, adding that the WB and its affiliates are supporting Egypt in its path for development.

Sisi said that Egypt considers the WB as an important development partner and he praised the bank’s efforts in supporting Egypt through executing development projects, providing technical support and enhancing the role of the private sector.

The statement said that the meeting reviewed the positive implications of Egypt’s economic reform program including the increase in international reserves, exports and foreign investments.

Sisi said that these positive results have prompted Egypt to press ahead with the program to achieve sustainable development, while expanding the social safety net and implementing more legislative and administrative reforms to improve the business climate.

The meeting came during Sisi’s visit to New York to attend the 72nd session of the United Nations General Assembly.