World Bank targets cooperation boost with Egypt’s oil sector: official

The World Bank is seeking to enhance cooperation with the Egyptian petroleum sector in the coming stage, a senior WB official has said.

The World Bank has contributed to a number of successful projects in Egypt, said Lucio Monari, Director of Energy and Extractive Global Practice, during a meeting with Petroleum Minister Tarek el-Molla on Wednesday.

He cited a project to extend natural gas to Egyptian houses.

He also pointed to a project to upgrade the petroleum sector and hone skills of workers.

Monari was also pleased with economic reforms implemented by the Egyptian government.

Molla said Egypt is keen on boosting economic ties with major funding institutions with the aim to encourage new investments in the Egyptian oil sector. Source: MENA