Today, the spring meetings of the International Bank and six axes for the future of Africa and investmentVisits : 245

Today, the spring meetings of the International Bank and six axes for the future of Africa and investment

The Spring Meetings of the IMF and the World Bank Group will start in 2019 in Washington, DC, today, with 41 keynote speakers in six panel discussions, not including the new World Bank President David Malpas, who officially took office on April 5.

The agenda includes six main themes. The first day will discuss the "economic and social feasibility of investments in human capital." The second day will discuss three episodes: "Building Human Capital in Africa: The Future of a Generation"; "And the third under the title" Development of capital markets and the technological technological revolution .. Opportunities and challenges ".

The third day will include a panel discussion entitled "A Great Start for Africas Digital Economy" and the Minister of Investment and International Cooperation Dr. Sahar Nasr will be a keynote speaker at the seminar, where the World Banks Director, Cristalina Gore Jibia, and Amina AbuZayd, Commissioner of Infrastructure and Energy of the AU and others, "Education is an important issue. Why do we need an educational revolution?"

On the relationship between the World Bank and Egypt, Ambassador Raji Al-Atrabi, Egypts Executive Director at the World Bank and a member of the Board of Directors of the Bank, said that the relationship between Egypt and the Bank is distinct. He added that a strong relationship between President Abdel Fattah Al Sisi and the President of the World Bank last 3 years, For the benefit of Egypt, and contributed to advancing the challenges and obstacles that faced us. He pointed out that the current President of the Bank, David Malpas, understands the importance and strength of Egypt in the bank and knows that Egypt was a supporter of him. He met with Dr. Sahar Nasr as Governor of Egypt at the bank and the meeting was very positive. It was agreed to consult between the President of the Bank countries The Governor of Egypt, Dr. Sahar Nasr, and the strengthening of cooperation to make Cairo one of the first countries to be visited by the current President of the Bank, who chairs the African Union and a member of the G20.

He said that the bank is not against the public sector, but is keen to be qualified to play an effective and effective role in the development process, pointing out that the governments requests to borrow to support the budget decreased under the directives of President Abdel-Fattah al-Sisi, and became simple in light of the tangible improvement, pointing out that the bank Provided support to Egypts public budget of $ 3.150 billion, before Egypts agreement with the IMF and its support of another $ 1 billion for the same purpose to support development projects and the private sector.

"What is happening in Egypt is not just an economic reform, but a comprehensive economic, social and developmental transformation," Ambassador Raji al-Atarbi said, revealing that the bank has 17 projects in Egypt with funding of $ 7-8 billion.

The International Finance Corporation (IFC) has an activity in Egypt valued at about $ 1.5 billion, which will increase to $ 2 billion by the end of this year. The MEGA has an activity of $ 350 million. The bank expects Egypt to achieve the highest rate of growth compared to other countries. In the same financial level, and will reach about 5.5%.

He pointed out that Egypt is expected to be one of the 20 largest economies by 2023 and one of the top 10 economies by 2030. It also aims to be a partner in the Fourth Industrial Revolution, as mentioned by President Abdel Fattah Al Sisi, in addition to transforming the regional center for energy and wealth development Human, digital and administrative.

He also revealed the close of the agreement between Egypt and the bank to develop the digital structure, whether through financial or technical support during the current year. Soon, young people and women in entrepreneurship and the private sector will be financed by about 200 million dollars in order to create new jobs.