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Thursday, 14 November 2019

World Bank's Global Infrastructure Programme praises Egypt's success in infrastructure development

Doaa A.Moneim , Sunday 20 Oct 2019
Views: 1260
Views: 1260

The World Bank's Global Infrastructure Programme has praised Egypt's success in infrastructure development under the leadership of President Abdel-Fattah El-Sisi over the past few years.

Egypt's Minister of Investment and International Cooperation Sahar Nasr said that the programme will pave the way for public and private venture corporations to increase their infrastructure investments in Egypt and other African countries, as Egypt chairs the African Union in its current round.

Nasr made these statements during her participation in the World Bank and International Monetary Fund annual meetings that were held in Washington.

She added that President El-Sisi is also prioritising negotiations with the international corporations to finance infrastructure projects in Africa.

Nasr said that investing in emerging markets and developing countries would help provide basic services, raise living standards, and enhance the economic growth.

The programme, which Egypt joined five years ago, has financed 77 projects in 40 countries all over the world with a total of $69 billion for private and public corporations in water and sanitation, energy, transport, and the communication sectors.

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