World Bank Hopes to Continue Egypt Programs; Says Chief

The World Bank hopes to continue its programs in Egypt following the military ouster of the country’s president, bank president Jim Yong Kim said in a statement to on Thursday.

“Over the past several days, we have been following events in Egypt closely and we join other international voices calling for calm. The World Bank Group is a strong supporter of the Egyptian people in their drive for social justice and economic inclusion.

“A calm period ahead will be critical for the economy to recover quickly from its recent downturn and for our support to be most effective in helping end poverty and boosting shared prosperity for all Egyptians. We encourage all parties to embrace healthy economic management with a view of establishing sound inclusive governance with the participation of all of Egypt’s voices.”

The World Bank Group’s portfolio in Egypt includes 24 projects and total commitments of $4.6 billion. The projects include support in setting up social safety nets, energy sector reform, and job creation. One of our most recent projects will create 250,000 jobs, especially for youth and women largely in disadvantaged areas such as Upper Egypt.