17 January 2021 07:33 AM

Mashat: Cooperation between Egypt, World Bank hits $8 bn

Wednesday، 07 October 2020 - 09:05 PM
International Cooperation Minister Rania el Mashat

The current cooperation portfolio between Egypt and the World Bank Group (WBG) amounts to 8 billion dollars, International Cooperation Minister Rania el Mashat said on Wednesday.


The cooperation portfolio includes $5.8-billion investments by the International Bank for Reconstruction and Development and another $2.2 billion worth of investments by the International Finance Corporation in Egypt, Mashat said at a meeting with Regional Director of the World Bank office in Egypt, Yemen and Djibouti Marina Weiss.


Mashat called for increasing economic and development cooperation between Egypt and the World Bank, as well as expanding the investment portfolio ahead of the annual meetings of the World Bank's Board of Governors, which will start Thursday.


She further stressed Egypt's keenness on going into partnership with the World Bank, which contributed to supporting a number of development projects in the country.


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