President Abdel Fattah El Sisi lauded Sunday the fruitful cooperation between Egypt and the World Bank (WB), describing the international institution as a key development partner.

Sisi made his remarks during a meeting with WB Senior Vice President for the 2030 Development Agenda, UN Relations, and Partnerships Mahmoud Mohie Eldin in Sharm El Shiekh.

The meeting took up means of promoting mutual cooperation to support the state efforts for transferring industrial technologies to Egypt, boosting exports as well as the volume and value of privately-owned and foreign investments, Presidential Spokesman Bassam Rady said.

Egypt has managed to overcome many challenges over the past years, said the bank's senior official, commending the government's success in implementing a comprehensive economic reform program, which was acclaimed by top international financial institutions.

The meeting also tackled cooperation in new and renewable energy projects and digital economy, Rady added.