Egypt, World Bank agreed on 4-year partnership

Egypt's International Cooperation Minister Naglaa el Ahwany on Friday signed a $400 million-loan agreement with World Bank Vice President for the Middle East and North Africa Hafez Ghanem in favor of the Social Solidarity Ministry in collaboration with the Planning Ministry.

The document is part of long and strong partnership between Egypt and the World Bank, said the minister.

The ministries of social solidarity and planning will benefit from this loan in supporting the social protection project, she added.

 The minister said the government seeks a growth program that does not exclude any citizen and cares for poor and unable classes.

The new loan will help the social solidarity ministry to implement a program aims to support the targeted poor class, she added.

Egypt and the World Bank are about to complete the formulation of a four-year partnership framework and an agreement on priorities to be financed by the bank, the minister said.

The partnership with the World Bank focuses on issues related to economic stability, social development, creating jobs and developing education, she added.
Source: MENA