World Bank President Jim Yong Kim- Reuters
CAIRO – 24 April 2018: World Bank Group President Jim Yong Kim praised the Egyptian economic reforms in a tweet, noting that investments in education will prepare the youth for the digitally demanding future.
“I am glad to see Egypt's recent economic reforms. The country's progress presents an opportunity for more private sector-led job creation and growth, and investments in quality #education will equip young Egyptians with skills for a more digitally demanding future,” Kim said on Twitter.
This came after Kim's meeting with Minister of Investment and International Cooperation Sahar Nasr during the spring meetings of the World Bank in Washington, in the presence of Egyptian Education Minister Tarek Shawki and a number of the bank’s officials.
The 2018 spring meetings took place in Washington, D.C. from April 20 to April 22, covering issues about monetary policy, the economic and social program of the government, and the progress made in the Egyptian economic reform program.
Egypt signed an agreement worth $500 million with the World Bank on Sunday to develop pre-university education.
The World Bank commented on the signing, saying that this agreement is a five-year project to support Egypt’s education reform project, targeting to improve teaching and learning conditions in Egypt’s education system.
The five-year project will expand access to quality kindergartens for around 500,000 children, train 500,000 teachers and education officials, and provide 1.5 million students and teachers with digital learning resources.
The current portfolio of the World Bank in Egypt includes 16 projects for a total commitment of $6.69 billion, according to the World Bank’s statement.
The bank finances projects in key sectors, including energy, transport, water and sanitation, agriculture and irrigation, housing and social protection, as well as health and education.