World Bank’s investment portfolio in Egypt worth $6.7B

CAIRO – 3 April 2019: World Bank’s investment portfolio in Egypt includes 16 projects with a total value of $6.7 billion, according to Minister of Investment Sahar Nasr.

Nasr clarified that the investment portfolio focuses on the expansion of social security, improving competitiveness and infrastructure in less developed areas, in addition to setting a development strategy for digital development to rehabilitate the youth for jobs.

The minister added that it also works on directing investments of the private sector to infrastructure projects, and the application of reforms on education and health sectors to build a human capital.

This came during the meeting of Egypt’s Minister of Investment with the United States’ candidate to assume the chairmanship of the World Bank Group, David Malpass, during her visit to Washington.

They both discussed the bank’s support to the Egyptian efforts in the economic and social transformation process, and its help in attracting foreign investments to Egypt, in addition to the bank’s participation in supporting infrastructure in light of the Presidency of President Abdel Fatah el-Sisi to the African Union.

Earlier, the World Bank expected Egypt to achieve a growth rate of 5.5 percent during 2019, marking the second highest growth rate in the Middle East and North Africa region behind Djibouti, which tops the forecasts by 7 percent.

World Bank expects Egypt to hit 2nd highest growth rate in MENA

CAIRO – 2 April 2019: The World Bank expected Egypt to achieve a growth rate of 5.5 percent during 2019, marking the second highest growth rate in the Middle East and North Africa region behind Djibouti, which tops the forecasts by 7 percent.

It also praised Egypt’s efforts into fighting corruption, governance, counter terrorism, and its economic and social reform program, which contributed to increasing the rate of growth and injecting new investments.

World Bank praises Egypt’s efforts to fight corruption, terrorism

CAIRO 1 April 2019: The World Bank praised Egypt’s efforts into fighting corruption, governance, counterterrorism, and its economic and social reform program, which contributed to increasing the rate of growth and injecting new investments. This came during a meeting between the World Bank representatives with Egyptian officials in Washington.