Latest in Tag: World Bank Highlight

Latest in Tag: World Bank

Fuel subsidies phasing out faces significant challenges which must be faced: WB

According to the recent report issued by the Energy Sector Management Assistance Programme (ESMAP) which is administrated by the World Bank (WB), Egypt’s economy was adversely affected by a growing energy deficit, in the aftermath of the Arab Spring , slowing economic growth, increasing poverty, and socioeconomic transition. Egypt faced growing fiscal pressures. With fossil …

Daily News Egypt

World Bank report: Poverty rates remain high in Africa

The latest extreme poverty estimates from the World Bank revealed that Africa is lagging behind the rest of the world. Development expert Francisco Ferreira says it’s not too late to turn things around.Sub-Saharan Africa is the only region in the world where the overall number of extremely poor people is increasing rather than decreasing, according …

Deutsche Welle

Sinai development tops Nasr, Al-Saeed meeting agenda with WB

Egypt’s minister of investment, Sahar Nasr, and minister of planning, Hala El-Saidd discussed Sinai development projects, and how can the World Bank(WB) aid in completing such goals, during their meeting with the WB officials in Washington DC on Saturday. The meeting focused on the different ways that the WB and the International Finance Cooperation (IFC) …

Daily News Egypt

World Bank funding study to restructure Egyptian Railway Authority

Assistant Transport Minister Amr Shaat said that the World Bank is financing and supervising a study for the administrative restructuring of the Egyptian Railway Authority (ERA). He explained that the comprehensive development plan will cost about EGP 56bn, including upgrading the railway signalling network with EGP 13bn in investments. The government recently opened the way …

Daily News Egypt

Egypt receives final $1bn tranche of World Bank loan

Egypt has received the third and final $1bn tranche of the $3bn World Bank loan on Wednesday, according to Minister of Investment and International Cooperation Sahar Nasr. Nasr added that Egypt has received another $150m from the Group of Seven (G7), in addition to receiving $250m from Germany and $170m from France, to fund the …

Mohamed Samir

Grand Ethiopian Renaissance Dam (GERD) on the Blue Nile River Egypt Ethiopia Sudan Daily News Egypt

Egypt demands World Bank join GERD negotiations

Foreign Minister Sameh Shoukry met Tuesday, during his visit to Addis Ababa, Ethiopian Prime Minister Hailemariam Desalegn and Minister of Foreign Affairs Workneh Gebeyehu, where he followed up on the cooperation between the two countries following the latest round of tripartite meetings between Egypt, Sudan, and Ethiopia regarding the Grand Ethiopian Renaissance Dam (GERD). According …

Daily News Egypt

Out of a $3bn total, Nasr signs 3rd tranche of World Bank loan worth $1.15bn

Sahar Nasr, minister of Investment and International Cooperation, signed the third tranche of the World Bank loan, estimated at $1.15bn, from a total of $3bn. Acting Prime Minister Mostafa Madbouly and Minister of Electricity Mohamed Shaker attended the signing. During the ceremony, Nasr said that the third tranche will be directed to implement reforms in …

Daily News Egypt