World Bank finance projects in Egypt

Egypt and the World Bank agreed on an executive program to finance projects of top priority in the economic and social development plan.

Concluding talks by the visiting executive Director of Egypt and the Arab Group in the WB Mohammed Kamel Amr said the bank will act as a coordinator for aid received by Egypt from donor countries to get soft loans.

In statements to MENA, Amr said it was agreed that the World Bank would contribute to providing needed funds for hundreds of small-scale projects in cooperation with donor countries, the Social Fund for Development and businessmen associations.

He added that it was agreed to give priority to certain domains, foremost among which is setting up special courts to settle trade disputes and pass new laws to coax investments in the field of technology and simplify export-related procedures.

The World Bank official pledged to contribute to a programme for training graduates. It is the first visit to be paid by him to Egypt since he assumed his post in May.

He had met with Prime Minister Atef Ebeid, the ministers of agriculture, education, higher education, health, economy, foreign trade, international cooperation, social insurance and the governor of the Central Bank of Egypt.