News Column

World Bank commences social consultations on supporting Egypt

June 16, 2014

Doaa Farid



The World Bank said in a statement Sunday that several consultations have taken place in Cairo with further events planned in Alexandria and Aswan to discuss the plan.

(AFP Photo)

Discussions with stakeholders started on Sunday in preparation for a new World Bank Group (WBG) partnership with Egypt, to develop a guide to a 2015-2019 cooperation programme.

The WBG said in a statement Sunday that several consultations have taken place in Cairo with further events planned in Alexandria and Aswan. The WBG started consultations with the Egyptian government in March, with current consultations talking to the private sector, civil society representatives, academia and youth-led NGOs.

"We look forward to listening to input and feedback from various stakeholders on how best we can support Egypt and we are very pleased to reach out to various governorates especially those in Upper Egypt," said Hartwig Schafer, director of World Bank in Egypt, Yemen and Djibouti.

The new strategy's focus is on development in Egypt, consistent with the regional strategy of the WBG in the Middle East and North Africa. Particular targets are an end to poverty and boosting economic prosperity, the statement said.

Nada Shousha, country director for the International Finance Corporation (IFC), a member of the WBG, said in the statement that consultation process will help the group assess development priorities.

As part of the consultation process, the WBG has launched its new consultation website and survey for Egypt, and will receive research papers from the public.

The World Bank is financing several projects in Egypt, most recently granting a $300m loan, signed in April, to finance micro and small enterprises (MSEs).


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Source: Daily News Egypt


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