Cairo - Mubasher: Egypt’s recent economic legislation has contributed to improving business environment, the World Bank Group said.
The mission of the Washington-based lender, which is visiting Egypt, said that the Egyptian business climate has become attractive to investments, particularly the Upper Egypt, according to the Investment and International Cooperation Ministry’s statement.
The mission also lauded the significant progress in local development projects at the Upper Egypt governorates in line with their timetable.
The World Bank stressed its keenness to support infrastructure in the North African nation, particularly the Upper Egypt, over the coming period.
This came on the sidelines of a meeting between the investment minister and Axel Baeumler, the World Bank’s senior infrastructure economist.
The investment ministry has received a $500 million loan from the World Bank for local development projects in the governorates of Sohag and Qena, which comprise 27 and 19 projects, respectively.
Investment and International cooperation Minister Sahar Nasr stressed the importance of speeding up development projects in the Upper Egypt, which will create jobs for around 8.2 million people in the two governorates.
