WB president lauds Egypt's economic reform program

CAIRO - 20 April 2018: World Bank (WB) President Jim Yong Kim lauded Egypt’s economic reforms and its efforts to lure more direct foreign investments to the country, the Ministry of Investment and International Cooperation said in a statement Friday.

Speaking at a celebration marking the 30th anniversary of the establishment of the Multilateral Investment Guarantee Agency (MIGA), Kim indicated that the Egyptian economic reform program is among the relevant success stories around the world, praising the courageous steps taken by the Egyptian government in this regard.

The celebration, organized during the World Bank Spring Meetings in Washington DC, was attended by Egyptian Minister of Investment and International Cooperation Sahar Nasr in addition to MIGA Executive Vice President Keiko Honda.

Kim noted that MIGA is proud of the ongoing projects it carries out in cooperation with the Egyptian government, especially in the energy sector, with the agency’s officials reviewing cooperation with Cairo in the field of solar power.

Meanwhile, Nasr asserted the government’s keenness on the participation of the country’s private sector in the all-out economic growth process.

The Egyptian minister also affirmed Cairo’s commitment to fostering its partnership with MIGA and encouraging the agency to expand in its participation in Egypt’s economy, particularly in the renewable energy sector.