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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

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

World Bank to disburse 3rd part of loan this month

The Egyptian government will receive the third portion—worth $1bn—of the World Bank loan before the end of this month, an official source at the Ministry of Finance said. According to the source, who asked not to be named, the World Bank’s board of directors will hold a meeting this week to discuss the approval to …

Ahmed Ismail