World Bank discusses infrastructure boost in Egypt

30 December 2010

The World Bank hopes to implement infrastructure initiatives - such as transport and electricity projects - in the Arab parts of Africa.

According to the organisation, its officials will collaborate with the Arab League, after managing director Mahmoud Mohieldin led a mission to Cairo concerning the improvements.

As well as infrastructure, the bank will look at human development and the financing of small and medium-sized enterprises.

Secretary general of the League of Arab States Amr Moussa met Mr Mohieldin and the pair signed a memorandum to outline future collaboration as part of the bank's Arab World initiative (AWI).

Mr Mohieldin said: "AWI is underpinned by principles of partnership and support for comprehensive development and enhancement of cooperation opportunities among the Arab world."

The bank recently agreed a $330 million (£208 million) loan for Egypt, as part of its National Railways Restructuring Project, which aims to boost the country's transport infrastructure.
 


Categories: Transport, Energy

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