We have confidence in the Egyptian economy in the medium and long term
The World Bank’s Vice President for the Middle East and North Africa, Farid Belhadj, said that the latest program of the framework of cooperation with Egypt provides for the disbursement of $7 billion to the country over a period of 5 or 6 years.
Belhadj added, in an interview with Al-Arabiya, on the sidelines of the meetings of the International Monetary Fund and the World Bank, that between one billion and $1.2 billion will be disbursed annually to Egypt to finance projects, whether infrastructure, transportation or environment, all of which are important projects at the level of human capital, social coverage and education. .
Farid Belhadj described the cooperation with Egypt as “very strong”, stressing confidence in Egypt and the sustainability of economies like all economies in the region, especially in these critical times.
“In the medium and long term, we have confidence in the Egyptian economy and positive interaction with the Egyptian government,” said the World Bank’s vice president for the Middle East and North Africa.
He continued, “Financing continues gradually, according to what was agreed upon, with investment in sectors that benefit the Egyptian economy and the citizen.”
Regarding what was reported by some press sources about the suspension of cooperation with Tunisia, Farid Belhadj said that the relationship with Tunisia is proceeding at the same level and the bank’s financing for it continues, and at the end of the fiscal year ending next June, it will obtain financing of about $500 million, which will be moved forward.
He indicated that the partnership framework between the World Bank and Tunisia will be presented to the World Bank Board of Directors soon.