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Elham AbolFateh

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WB looking forward to cooperate with Egypt to foster country، Africa growth

Saturday 13/April/2019 - 06:55 PM
ًWB president and
ًWB president and Minister of Investment and International c
Hassnein Tayea
Egypt’s Minister of Investment and International Cooperation Sahar Nasr held a meeting today Saturdday with David Malpass، the World Bank Group (WBG) president on the sidelines of the spring meetings of the World Bank and the International Monetary Fund.


During the meeting، the two sides discussed enhancing support for Egypt’s transport، infrastructure projects، small and medium enterprises and entrepreneurship، in addition to attracting foreign investments to Egypt.

They also talked about the WB’s participation in supporting infrastructure projects in Africa under the chairmanship of President Abdel Fattah Al-Sisi.

Malpass also added that Egypt is doing well، as its inflation rates are falling and more jobs are now available، and the country has achieved some improvement in the empowerment of women. Additionally، Egypt has an important role in the African continent especially after Egypt's presidency of the African Union."

He announced، "I am looking forward greatly to work and cooperate with President Abdel Fattah Al-Sisi to foster growth in Egypt and in the world."
Moreover، Malpass said that global growth lost momentum throughout 2018، falling to 2.7% in the fourth quarter (Q4) of the year، down from 3.3% in Q1، based on the WB calculations.

He explained، 'Fortunately، the WBG is financially strong. With the capital package – which was agreed on a year ago at the Spring Meetings، and which I was proud to support – the organisation is becoming even more responsive، efficient، and effective.'

'This week we at the WBG have joined the IMF in welcoming our 189 shareholders to the Spring Meetings،' he finally declared.

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