World Bank doubles Investments in Egypt to US$1.2 billion annually

The World Bank has decided to double its investments in Egypt to US$4.5 billion in the coming four years, reaching US$1.2 billion per year, regional vice president for MENA Hafez Ghanem said Thursday.

Ghanem made his remarks today during “Creating Jobs and Improving Services: A New Social Contract in the Arab World” panel discussion held on the sidelines of the annual spring meetings of the World Bank and International Monetary Fund (IMF).

This week, the World Bank — along with the International Monetary Fund — is holding its annual spring meetings in Washington, D.C. Thousands of government officials, civil society actors and stakeholders from academia and the private sector are gathered in the U.S. capital, where conversations will range from World Bank safeguards to procurement reform to climate change.