Minister of Investment and International Cooperation Sahar Nasr held a meeting with the World Bank’s delegation that is currently visiting Egypt to negotiate the third tranche—worth $1bn—of the bank’s $3bn loan. The minister stated that Egypt targets implementing reforms to improve the economy and investment climate to improve the rank in the next report, in order to consider Egypt as an emerging economy. Additionally, reforms are being implemented to enhance the private sector’s abilities to increase its investments in the market. The meeting comes after Egypt has received the second tranche of the loan on 20 March, which means that Egypt is taking serious steps towards inclusive development, Nasr noted. The bank’s strategy is to provide $6bn to cover the time from 2015 to 2019.

Source: Daily News Egypt March 22, 2017 13:41 UTC