The meeting was attended by officials from World Bank (WB), IFC, European Investment Bank (EIB), European Bank for Reconstruction and Development (EBRD) and African Development Bank (AfDB).
The cabinet also approved authorizing the Egyptian Railway Authority to make limited agreements with a number of foreign specialized companies.
President Sisi met on Saturday with Hailemariam Desalegn, the special envoy of Prime Minister Abiy Ahmed.
Following the final round of the meetings between the countries and the US and the WB representatives in Washington D.C.on February 12-13, 2020, the participants issued a communique saying that the negotiations achieved a concrete development and a final
The program is partially funded by the World Bank (WB) with a sum of dollars 500 million alongside a dollar 457 million contribution by the government.
Ahmed added that his country will never sign an agreement that harms his country’s national interests or any Nile downstream countries.
Addressing the Intergovernmental Group of 24 on International Monetary Affairs and Development in Washington, Nasr called on the WB and International Monetary Fund to expand investments in the region.
Madbouli on Tuesday met with a mission of the World Bank to assess the business performance in Egypt.
Foreign Policy Published an article for a senior Muslim Brotherhood member,in which he argued that the Egyptian economy is collapsing. Most of the international reports indicated the contrary.
Nasr underscored the IFC's great role in supporting several mega projects in Egypt, noting that the corporation's investments in Egypt hit a record high in 2017-2018 fiscal year after reaching $1.2 billion.
It has been widely proven that companies run by women are one of the fastest growing small sized companies, she added.
Lebanon has suffered years of low growth and has one of the world's biggest public debts compared to the size of its economy.
Policy reforms have contributed to an upgrade of its sovereign rating in August 2018. Fiscal adjustments in Egypt have also been steadily progressing, the report added.
The report will present a roadmap to attract private investments to the sectors of energy, transport, water and agriculture, the WB said in a statement on Thursday.
WB also added that if the business environment reforms are effectively implemented, public investment will grow and private investment will recover.
He also thanked the government for such reform measures.
The two-day meetings, organized by the Ministry of Investment and International Cooperation and the Ministry of Finance in collaboration with the Central Bank of Egypt.
Egypt’s economic growth will be boosted by ongoing reforms and improved business climate, the World Bank predicted in a Wednesday report.
Egypt will receive within 48 hours the last $1.5 billion tranche of the World Bank (WB) development loan.
Governor of the Central Bank of Egypt Tarek Amer traveled Sunday for Washington on a three-day visit.