Egypt is at the top of the World Bank’s projects, and there are projects that are being discussed for the purpose of implementation at the moment, including one that costs it $1 billion, and Sheikh Omar Sila, the regional director of the organisation, stated this during the international financing opportunities and prospects for the private sector support on the second day of the Economic Conference 2022.
In order to achieve sustainable economic growth and create job opportunities, the regional director continued: “Increasing economic growth is not only on the public sector or the private sector; rather, there must be a strong mix between the two sectors. We participated in the private sector through a variety of tools, the majority of which were forms.
I saw investments of 32 billion dollars and 10 billion dollars in partnership with the partners of the institution, and this is an important point. We also share information with and offer consultations to the public and private sector through the partnership unit Between the Private and Public Sector, in addition to offering loans, grants, and capital.
He also emphasised the need for a five-year plan for growth, cooperation, and development with the Egyptian government and expressed the Foundation’s desire to work with Egyptian businesses, noting that the Foundation is focused on developing a strong partnership with Egyptian private sector businesses.
“Since 2005, $5 billion has been invested in the Egyptian market,” Sheikh Omar Sila said, “and this is a strong testimony that the financing institution inside Egypt, and during the last period there is an investment portfolio to $1. 3 billion dollars, and the number of investment customers reaches 47 customers, and we are talking about how we support private sector.”
The Economic Conference – Egypt 2022’s activities began on Sunday and will last till Tuesday. Its goal is to debate the state and prospects of the Egyptian economy with the involvement of many notable economists, intellectuals, and subject-matter specialists.
International Finance: The institution’s projects place Egypt first.
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