25 June 2018 12:28 AM

WB expects growth rate in Egypt to reach 4% in 2017

Friday، 21 April 2017 - 02:08 PM

Vice President of the World Bank for the Middle East and North Africa Hafez Ghanem expected growth rate in Egypt to reach four percent this year, expressing optimism about the Egyptian economic reform program.

During a meeting in Washington with Egyptian Minister of Investment and International Cooperation Sahar Nasr and Housing Minister Moustafa Madboli, Ghanem also expected foreign reserves to increase. He stressed the World Bank's support for Egypt to pump more investments into infrastructure projects.

He added that the World Bank is keen on cooperating with Egypt in developing education. He added that efforts to develop education in Egypt are carried out in coordination with international development partners, including Japan International Cooperation Agency.

The talks tackled the third part of the three-billion-dollar loan by the World Bank for supporting the Egyptian economic reform program.

The talks also probed means of boosting the World Bank's contribution to micro-enterprises to increase investments and secure jobs.


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