World Bank regional vice-president for the Middle East and North Africa, Inger Andersen, has re-affirmed support for Egypt during a two-day visit.
The World Bank will back Egypt through continued engagement in job creation, energy sector reform, education, transport, water and sanitation, agriculture and irrigation, the World Bank website said Wednesday.
"The World Bank Group’s support to Egypt includes improving economic management and restoring sound macroeconomic framework; creating jobs and addressing unemployment; and fostering inclusion across the population by ensuring better access to good services for different groups especially youth, poor, women and those living in lagging geographical regions," the statement added.
“Egypt has the potential to become a powerful emerging economy and the World Bank Group is committed to supporting the country’s priorities to reduce poverty and achieve shared prosperity,” the statement quoted Inger Andersen as saying.
Egypt signed on 4 November an agreement with the World Bank to build a power plant south of Helwan, which will contribute to 10 percent of the generated electricity in Egypt by 2018.
The World Bank is currently implementing a labor-intensive project in Egypt, which aims to create 250,000 job opportunities.
