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Tuesday, 22 October 2019

Egypt's Sisi meets with new World Bank Head Malpass in Cairo

Ahram Online , Saturday 4 May 2019
Sisi -Malpass
Views: 4453
Views: 4453

Egyptian President Abdel-Fattah El-Sisi met with the head of the World Bank Group David Malpass in Cairo on Saturday, and discussed with him the importance of continuing the implementation of the cooperation programme between Egypt and the group.

The meeting was attended by the Minister of Investment and International Cooperation Sahar Nasr, Minister of Finance Mohamed Maait and the Egypt's head of intelligence service Abbas Kamel, according to a statement by El-Sisi’s spokesman Bassam Rady. 

El-Sisi and Malpas discussed ways to develop cooperation between Egypt and the World Bank in various fields, especially in infrastructure projects, the development of an integrated human development system, the development of the most needy areas of the country, and technical programmes supporting the government's efforts to carry out structural reforms.

They also discussed the activities of industry and exports, increasing the proportion and value of private and foreign investments, cooperation in health and education and on small and medium-sized enterprises, energy, including new and renewable forms, the digital economy, transport, agriculture, desalination and water treatment.

The president congratulated Malpass on his assumption of the presidency of the World Bank last month and expressed his appreciation of his choice to visit Egypt as his first foreign tour after assuming office.

He also expressed his hope for continued fruitful cooperation between Egypt and the World Bank.

El-Sisi also highlighted Egypt's keenness to develop its relations with the World Bank Group and the expansion of cooperation between the two sides to include many projects in various fields and sectors of development, management and optimal utilisation of the financial resources provided for the development process in Egypt.

Rady said that Malpass stressed importance of Egypt's pivotal role in Africa and the Middle East region and its success in overcoming the various challenges facing the country during the past years.

He has also hailed the implementation of a comprehensive programme of economic and social reform, which resulted in positive results in terms of raising growth rates and reducing the budget deficit, as well as reducing unemployment and reducing inflation.

He praised the Benpan solar power project in Aswan, which is the largest project of its kind in the world.

Malpass also stressed the importance of continuing to implement programmes of cooperation with Egypt, in addition to supporting its development efforts, as well as supporting development projects in Africa under Egypt’s chairmanship of the African Union this year.

The president and the world bank president reviewed the steps taken within the framework of the social protection network to alleviate burdens from citizens as one of the main pillars of the economic reform programme.

They also reviewed progress made in attracting more investments and providing job opportunities for youth.

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