Egypt's debt burden jumps by 550 million dollars; economic efforts continue
Egypt, Economics, 5/25/2002

Egyptian Prime Minister Atef Ebeid said President Hosni Mubarak Thursday ratified four important agreements signed by Egypt and donor countries.

Under these agreements, Egypt will receive 550 million dollars as a first batch of a total of $ 10.3 billion which were agreed on during Sharm El Sheikh conference last February for supporting national economy after September 11 incidents.

The four agreements were signed with Denmark, Japan, Arab development fund and the Kuwaiti fund.

Ebeid said that the relationship between Egypt and international financing corporations are distinctive and strong, dismissing reports on disagreements between the government and the World Bank.

He said that the two sides maintain full understanding, adding that cooperation is underway on conducting studies on development in Egypt.

He said the studies tackle measures for maintaining social security, expanding the role of private sector, increasing national production and sustaining trade liberalization measures.

The prime minister said that the government is currently conducting two important working papers in preparation for raising them before President Mubarak.

He said the first deals with the executive program of the Egyptian - European partnership and the second deals with education development.

He said that the government held successive meetings with Minister of Higher Education and Minister of Education for reviewing measures for developing education.

The prime minister said the cabinet will take a number of measures facilitating transferring ownership by Arabs of real estates in Egypt.

He said the government will also extend facilities in the field of issuing building licenses and public notary.

He said that he will have meetings with governors and experts of administrative control body for getting acquainted with services extended by the government bodies to the public.

Previous Stories:
  European bank does not increase Egyptian citizens' debt burden; lends directly to business, bears proper risk evaluation responsibility   (5/23/2002)
  Egypt's banks forced to achieve world standards in operation and service   (5/21/2002)
  Key economic legislations: cornerstone of Egypt's reform drive   (5/21/2002)
  Suez power station raises its own funds to increase capacity   (5/20/2002)
  Egypt's banks and stock markets to efficiently collect and direct all citizens savings into investment and new companies   (5/20/2002)

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