Sharm ELsheikh

Egypt and the World Bank signed an agreement on Sunday to support the role of the Egyptian private sector in the achievement of integrated growth, worth with one billion dollars.


The agreement was signed by Dr. Sahar Nasr, Minister of Investment and International Cooperation, and Dr. Farid Belhadj, Vice President of the World Bank Group For the Middle East and North Africa, on the sidelines of the Africa 2018 Forum.

The World Bank's funding will contribute to the objectives of the economic reform program, especially in terms of facilitating the establishment of companies in all regions of the Republic, creating more jobs and improving the organization of passenger transport services, the Minister of Investment said.

Nasr said that the aim of the financing is to make the most of the government's reforms, which provided an enabling environment for the private sector. Egypt's access to new financing is a practical application of the World Bank's repeated promises to improve the investment environment in Egypt.

For his part, Dr. Farid Belhadj, Vice President of the World Bank Group for the Middle East and North Africa, praised Egypt's economic reform program and its success in achieving reform in three axes: financial coverage, financing for small, medium and small enterprises, Clearly in improving Egypt's ranking in the Bank's Ease of Doing Business Index.

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