WB president lauds success achieved in Egyptian economy

CAIRO - 23 April 2018: President of the World Bank (WB) Group Jim Yong Kim lauded the success achieved in the Egyptian economy and the legislations to improve the investment environment.

Jim said President Abdel Fattah El Sisi had courageously eliminated the challenges facing development in Egypt and set plans that contributed to the success of the Egyptian economy.

The bank is working on investing in education, health and social protection to increase growth, Kim said.

This came during Kim's meeting with Minister of Investment and International Cooperation Sahar Nasr during the Spring Meetings of World Bank in Washington in the presence of Egyptian Education Minister Tareq Shawqi and a host of the bank officials.

In a statement on Monday, Nasr said that investing in humans is a top governmental priority.

She also thanked the bank for supporting the strategy of developing education by 500 million dollars.

The government is working on developing Sinai as soon as possible at the directives of President Sisi, Nasr said.

Both sides discussed the bank's support to the sector of energy.

Also, Nasr headed the meeting of Africa Gathering in the presence of the president of the World Bank and the African governors in the bank.

Egypt exerts every effort for achieving development in Africa, she said.

The Spring Meetings this year are exceptional as the World Bank is trying to re-identify "funding development" which will have role in supporting achieving the aims of sustainable development, Nasr added.

Nasr also attended a meeting of the International Finance Corporation under the rubric "partnership for prosperity.. Entrepreneur and comprehensiveness".

Nasr said that achieving sustainable development and boosting economic comprehensiveness top the priorities of the government's agenda.

The government works on enabling the private sector to play an important role in the development process, he said.