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World Bank offers $400m to Egypt - Daily News Egypt

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World Bank offers $400m to Egypt

International institution will work on increasing investments in infrastructure, projects that provide employment opportunities for youth


World Bank offers $400m to Egypt (AFP Photo /Brendan Smialowski)
World Bank offers $400m to Egypt
(AFP Photo /Brendan Smialowski)

By Rana Yehia

Prime Minister Ibrahim Mehleb met the Managing Director of the World Bank Sri Mulyani Indrawati Sunday, on the sidelines of the Egypt Economic Development Conference (EEDC), according to a press release.

The Economic Summit clarified that the Egyptian economy is able to recover during the next period, said Indrawati during the meeting, noting that the World Bank will offer $400m to Egypt to launch programmes to eliminate poverty and to elevate the standards of living in Egypt.

The bank will also work on increasing the investments in infrastructure and projects that provide employment opportunities for the Egyptian youth, added the executive director.

For his part, Mehleb said that in order to create jobs for the youth in the private sector, it’s important to focus on training and technical education, and that the government places this issue at the top of their priorities.

In this regard, coordination between the Ministry of State for Technical Education and the World Bank will take place, Mehleb added. 

 

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