Egypt’s minister of investment and international cooperation Sahar Nasr is in talks to expedite the signing of the World Bank’s third tranche worth $1 billion before the end of 2017.
The Egyptian minister has discussed speeding up the signing of the loan with World Bank CEO Kristalina Georgieva as well as supporting infrastructure projects and prioritising the role of women in the bank’s programmes with Egypt, a statement by the ministry showed Tuesday.
Georgieva welcomed Nasr’s invitation to attend the upcoming Business for Africa, Egypt and the World (Africa 2017), a conference on investment in sustainable development.
The three-day event will be held in Sharm El Sheikh between 7 and 9 December and will kick off with the Young Entrepreneurs Day (YTD).
Egypt’s portfolio of loans held by the World Bank amounts to $8 billion, of which $6 billion are for the government and $2 billion are for supporting the private sector.
The loans are part of an agreement between Egypt and the World Bank and cover the period between 2015 and 2019.