World Bank mission to visit Egypt next October

A World Bank delegation will visit Egypt next month to offer support to the Egyptian government in order to reach financial inclusion, said Céline Senseney, financial attaché of US Treasury Department at the US Embassy in Cairo.

Senseney added that the US is highly interested in supporting governments to achieve financial inclusion, which is a means for economic development, by providing financial and technical support through the World Bank.

She made her statements in a speech to the Arab banking forum about financial inclusion and its role in supporting countries both financially and socially.

Senseney stressed on the importance of the private sector and the simplification of governmental and banking procedures to achieve this goal.

The US gives special attention to the issue of financial inclusion in Africa, Senseney said, as the US believes that financial inclusion is an important factor in achieving economic growth rates in these countries.

Financial inclusion should include women, youth, and marginalised segments in society, in order to work on fighting poverty and unemployment, added Senseney.

Financial inclusion has another great importance, which is protecting the entire globe from money laundry operations, she said.

Egypt is doing well in achieving financial inclusion by the cooperation between banks and the government, according to Senseney, which was seen in the offering of the Suez Canal Investment Certificates. The efforts of the Ministry of Finance to automate salary payment to state employees and offering smart cards for the provision of petroleum products also are seen as a good sign.

Source: Daily News Egypt