World Bank keen to continue in cooperative programmes with Egypt: chief

The World Bank is keen to continue in implementing cooperative programmes with Egypt and developing consultation and coordination frameworks, said president Jim Yong Kim on Sunday.

During his visit to Washington, Egyptian President Abdel Fatah al-Sisi discussed with Kim Egypt’s ongoing economic reforms as well as cooperation in large development projects in a number of sectors in the country, including energy and transportation.

“Mr. Jim Yong Kim stressed the World Bank’s keenness to continue in cooperative programmes with Egypt and develop consultation and coordination frameworks between the two sides,” an Egyptian presidency statement read.

“He hailed the serious reform steps Egypt has taken to address the structural imbalances suffered by the Egyptian economy, taking the necessary measures to attract more foreign investment.”

Sisi said that Cairo would continue implementing the economic reform programme and achieve target growth rates, while expanding the social protection networks and programmes and take further legislative and administrative reforms aimed at improving the business and investment environment.