World Bank supports Egypt's economy

"The near future is witnessing more cooperation between Egypt and the World Bank (WB) within the development of the Egyptian economy and its ability to deal with novel financial and economic activities" said Mahmoud Ayoub, Head of the WB Mission in Cairo.

Ayoub added that the WB will continue supporting the Egyptian programs that aim at increasing the efficiency of the national economy and improving the performance of trade, financial and commercial institutions.

"Within its economic reform program, the Egyptian government has asked the assistance of the WB in developing human resources, improving education and health services besides extending social security umbrella to the utmost" said Ayoub. He added that such assistance will include setting and funding projects necessary for improving agricultural sector, services in rural areas and raising the standard of living therein.

Dr. Ayoub referred to the WB's international conference to be organized in Egypt, for the first time. "This conference will focus on the means of promoting information technology (IT) industry in Egypt" he noted.

"Egypt has competitive advantage in IT and software industry due to its available human resources in this field that can be easily qualified. This is besides the large Egyptian IT market compared to its peers in the Middle East" concluded Ayoub.