The Egyptian government and the World Bank signed a US $1 billion agreement to support the Egyptian private sector in achieving integrated growth, during the sidelines of the “Africa 2018” Forum held in Sharm al-Sheikh which concluded on Sunday. Nasr added that the aim of the funding is to make the most of the government’s reforms, which already provided a suitable environment for the private sector. Balhaj said in a statement quoted by the National Media Authority (Maspero)’s official website that the support of the Egyptian private sector is aimed at helping the Egyptian economy grow as well as developing the abilities of Egyptian employees for the private sector through training programs. According to Belhaj, the Egyptian economic reform program achieved reform in three levels including financial inclusion, and the development of the private sector and integrating it into the economic development plans. Belhaj also said that Egypt has backed the private sector’s investment in the energy sector, and created a financial capacity to invest in human capital.

Source: Egypt Independent December 19, 2018 11:15 UTC