Egypt appoints investment minister as country’s governor to World Bank

Egyptian Prime Minister Sherif Ismail has appointed Wednesday Minister of Investment and International Cooperation Sahar Nasr as the country’s governor to the World Bank Group.

According to the prime minister’s decree, Egyptian Minister of Planning Hala el-Saeed has been assigned as the country’s deputy governor to the Washington-based institution.

Nasr has also been named as Egypt’s governor to other international bodies such as the European Bank for Reconstruction and Development (EBRD) and Arab Fund for Economic and Social Development (AFESD).

The Boards of Governors at the World Bank consist of one governor and one alternate governor appointed by each member country. The office is usually held by the country’s minister of finance, governor of its central bank, or a senior official of similar rank. The Governors and Alternates serve for terms of five years and can be reappointed.