(3 Minutes Read)
The World Bank mission will hold a series of meetings with government agencies to discuss technical cooperation with the government on implementing the state ownership policy document and benefiting from the best international practices in managing state-owned assets. The mission’s work will continue until the end of this week
The World Bank mission will hold a series of meetings with government agencies to discuss technical cooperation with the government on implementing the state ownership policy document and benefiting from the best international practices in managing state-owned assets. The mission’s work will continue until the end of this week.
The World Bank mission began its work by holding a workshop at the Ministry of International Cooperation. The workshop focused on subjects like enhancing the joint efforts with the World Bank. This would help in identifying the best international practices in managing state-owned assets in a way that maximizes the benefit from those assets, in light of the technical support efforts provided by the World Bank in this area. The workshop also discussed the government’s vision regarding implementing the state ownership policy document, enhancing the role of the private sector, and selecting the best financing tools and programs that are offered by the World Bank in this regard.
The workshop addressed the policy of distributing profits to state-owned enterprises and its importance in implementing the state-ownership policy. It also presented the most important economic indicators of the Egyptian economy, which included non-tax revenues from state-owned companies.
The mission is scheduled to hold some technical meetings and workshops with relevant government agencies, including the Information and Decision Support Center. This comes within the framework of the Egyptian state’s directions to empower the private sector and enhance its role in achieving comprehensive development.
Read Also:
https://trendsnafrica.com/egypts-agriculture-bank-makes-smart-progress-in-loan-portfolios/
https://trendsnafrica.com/xiaomis-new-production-facility-coming-up-in-egypts-industrial-zone/
Egypt is one of the founding countries of the World Bank, and the third largest shareholder in the Middle East and North Africa region. The World Bank is one of Egypt’s most important development partners, as it started supporting the development program in 1959. Since then, the World Bank has financed 175 projects, with a total of nearly USD 26bn in many important sectors, including infrastructure, human capital, public sector reforms, and private sector development. The IFC’s total investments in the private sector in Egypt during the period from 2020 to 2023 amounted to about USD 2.46bn, including USD 1.7bn in the current portfolio, as well as the Multilateral Investment Guarantee Agency, whose investments amounted to USD 470m in the form of guarantees for 17 ongoing projects in sectors of infrastructure, manufacturing, renewable energy, and others.
