World Bank (WB) Vice President for Infrastructure Makhtar Diop said the bank considers Egypt a core country in its operations in the MENA region.
Diop added that the WB is eager to increase cooperation with Egypt to help the country improve its investment climate and achieve its development goals as part of its economic reform programme, especially in infrastructure and digital transformation.
Diop's statements came during a meeting held Saturday with Egypt’s Ministers of Investment and International Cooperation Sahar Nasr and Minister of Communications and Information Technology Amr Talaat on the sidelines of the World Bank and International Monetary Fund annual meetings in Washington.
The trio discussed increasing future cooperation between the World Bank and Egypt in infrastructure improvement, economic development support, private sector investment stimulation, and entrepreneurship boosting, especially in the digital and technology fields.
They also discussed the $57 billion fund that the World Bank has allocated to support Africa, over the coming three years as well as the $25 billion allocated to boost digital transformation in the continent, agreeing on the necessity of cooperation in regional integration projects for African countries.
Meanwhile, Minister Talaat asserted that Egypt is witnessing a qualitative shift towards the digital transformation, as 174 governmental services will be provided through digital platforms and mobile applications by the end of 2019.
“We are working on establishing the technical structure that allows private sector companies to design mobile applications in connection with the communication ministry’s digital system for the sake of stimulating the private sector and activating its role in the digital transformation that is considered the biggest technology shift in Egypt’s history," according to Talaat.