IFC: World Bank Hails Egypt's Economic Reform

The International Finance Corporation (IFC) Vice President Hans Peter Lankes expressed the World Bank's appreciation for Egypt's remarkable successes in implementing the economic reform program and achieving economic stability.

This came during a meeting between Prime Minister Mostafa Madbouli and IFC Vice President Hans Peter Lankes and his accompanying delegation.

In addition, the IFC delegation met with officials from the Egyptian government and the private sector during their visit to Cairo.

In a statement to the Egyptian Cabinet, Lankes stressed the IFC's interest in stimulating the private sector and other promising pisions such as housing, transport, logistics.

[caption id="attachment_57331" align="aligncenter" width="492"] Madbouli during a meeting with Lankes[/caption]

On his part, Madbouli said that the Benpan solar energy project is an excellent example of cooperation between Egypt and the World Bank. He stressed that Egypt looks forward to strengthening cooperation with the bank in the near future to build on the initiative of World Bank President David Malbas during his visit to Egypt last May.

The premier reviewed the latest developments exerted by the government in the field of financial and monetary reform to help create the appropriate environment for investors and boost economic activity.

Finally, Madbouli called on the Ministry of Investment to develop a plan of action to strengthen cooperation with IFC.

The International Finance Corporation (IFC) is a sister organization of the World Bank Group and is headquartered in Washington.