Egypt to boost cooperation ties with WB, IMF at Oct annual meeting

The newly-appointed Minister of International Cooperation and former economist, Sahar Nasr is heading to Peru to take part in the 2015 Annual Meetings of the World Bank Group and the International Monetary Fund.

Peru will host the Annual Meetings of the Boards of Governors of the World Bank Group (WBG) and the International Monetary Fund (IMF), the world’s most important multilateral agencies, of which Peru is a full member.

For seven days Peru’s capital, Lima will become the financial capital of the world, bringing together 16 thousand participants from 188 countries, which will have the chance to showcase its achievements and the policies implemented to become a referent at the regional and global level.

The Annual Meetings of the World Bank Group (WBG) and the International Monetary Fund (IMF) each year bring together central bankers, ministers of finance and development, private sector executives, and academics to discuss progress on the work of the IMF and the World Bank Group. Also featured are seminars, regional briefings, press conferences, and many other events focused on the global economy, international development, and the world’s financial markets.

As part of her participation in the World Bank-IMF meeting, Minister Nasr said she would hold talks and bolster cooperation ties with Egypt’s partners in development to invite them to take part in funding needed projects for supporting the Egyptian economy.

Nasr affirmed that the ministry is working on receiving the needed financing for developing national development projects in their targeted timeframes.

For this to be achieved, the ministry is forming an urgent plan for strengthening cooperation with its partners in development from various countries, she added.

Nasr was Country Coordinator for Finance & Private Sector Development in the World Bank from May 2011 to June 2014.

Minister of International Cooperation Sahar Nasr, who took her new position in the government on Saturday, has experiences in the fields of financing and economic development for 25 years.

Nasr has held multiple senior positions in the World Bank such as Programme Leader and Country Management, Manager of the Regional Medium Small and Micro Enterprises (MSME) Facility, and Lead Financial Economist.

Nasr is also an associate professor at the economics department of the American University in Cairo (AUC) since September 2002, and was a professor at the British University in Egypt (BUE) from September 2006 to June 2011.

She worked at the Economic Council, led by the presidency, to end the debts of projects financed by the World Bank, including MSME, to provide work opportunities for youth to eliminate unemployment and to improve the status of the poor and marginalised social class.