Egypt’s Investment Minister Sahar Nasr discussed ways to boost investment and economic cooperation between Egypt and the United States with US Department of the Treasury deputy assistant Eric Meyer in Bali on Friday, on the sidelines of the IMF-World Bank annual meetings.
According to the statement issued by the investment and international cooperation ministry about the meeting, Nasr and Meyer discussed increasing cooperation between the two countries, especially in the fields of development and investment, as well as in supporting the development of Sinai.
Nasr discussed ways to increase the investments by US companies in Egypt, especially after the achievements of the county’s economic reform programme.
Meyer praised the economic reforms in Egypt, which he said made the US companies increase their investments in Egypt by $1 billion in the 2017/2018 fiscal year.
He also added in the meeting that the US Economic Support Fund (ESF) had provided $800 million to Egypt from 2014 to 2018, in sectors like youth and women’s economic and social empowerment, water and sewage, education, health, family planning and agriculture.
The meeting was attended by Egypt’s Ambassador to Indonesia Amr Mowad, Egypt’s alternate executive director at the World Bank Ragui El-Etreby, and advisor to the investment minister Yara El-Abd.