Egypt PM, Japan's JBIC head explore deeper cooperation    Egyptian pound wavers vs. USD in early trade    SCZONE showcases investment opportunities to eight Japanese companies    Egypt urges Israel to accept Gaza deal amid intensifying fighting    Egypt, ADIB explore strategic partnership in digital healthcare, investment    Egypt's PM meets Tokyo governor, witnesses signing of education agreements    Egypt welcomes international efforts for peace in Ukraine    Al-Sisi, Macron reaffirm strategic partnership, coordinate on Gaza crisis    Egypt's Sisi, France's Macron discuss Gaza ceasefire efforts in phone call    Contact Reports Strong 1H-2025 on Financing, Insurance Gains    Egypt, India's BDR Group in talks to establish biologics, cancer drug facility    AUC graduates first cohort of film industry business certificate    Egypt to tighten waste rules, cut rice straw fees to curb pollution    Egypt prepares unified stance ahead of COP30 in Brazil    Egypt recovers collection of ancient artefacts from Netherlands    Egypt harvests 315,000 cubic metres of rainwater in Sinai as part of flash flood protection measures    Egypt, Namibia explore closer pharmaceutical cooperation    Fitch Ratings: ASEAN Islamic finance set to surpass $1t by 2026-end    Renowned Egyptian novelist Sonallah Ibrahim dies at 88    Egyptian, Ugandan Presidents open business forum to boost trade    Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken'    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Egypt's Sisi, Uganda's Museveni discuss boosting ties    Egypt, Huawei explore healthcare digital transformation cooperation    Egypt's Sisi, Sudan's Idris discuss strategic ties, stability    Egypt to inaugurate Grand Egyptian Museum on 1 November    Greco-Roman rock-cut tombs unearthed in Egypt's Aswan    Egypt reveals heritage e-training portal    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



World Bank sends $125m to CBE as part of development of Upper Egypt loan
We are looking to start the implementation of the programme immediately, we subjected it to a thorough review and discussed with a delegation from the bank: El Saeed
Published in Daily News Egypt on 16 - 10 - 2017

The Central Bank of Egypt (CBE) has received about $125m from the World Bank as part of a loan to implement the local development programme in Upper Egypt.
The Minister of State for Planning El Saeed said, "After the financial transfer, we reviewed the components of the project to ensure that the achievement of its development goals and the largest economic and social returns according to the report of studies and experts shared."
"In this context, we have agreed with the World Bank on a full review of the project's outputs, mechanisms, management, organisational, planning, and coordination aspects, and then start the actual implementation," El Saeed added.
El Saeed also revealed that Prime Minister Sherif Ismail revealed that all obstacles facing the implementation of the local development programme in Upper Egypt, financed by a loan from the International Bank for Reconstruction and Development (IBRD), would be achieved.
El Saeed stressed that the Egyptian government is exerting double efforts to improve the economic and social situation of citizens and the local development programme in Upper Egypt.
The results of this review were discussed with the World Bank mission, which visited the Ministry of Planning last month as the ministry that chairs the project's steering committee.
El Saeed said that there are serious efforts to immediately begin the completion of procedures to start the implementation of the programme for the benefit of the large provinces of Qena and Sohag, one of the poorest provinces of Egypt.
El Saeed added that in parallel with the implementation of the local development programme in Upper Egypt, the Egyptian government is taking several reform steps that will help this project, such as the new local administration law to be issued soon, which will give new responsibilities and powers to the governorates.
In addition to the local planning system and the preparation of local development plans for a period of three years, and the definition of financial ceilings for each province based on a funding equation and others. These reforms require good and substantial preparations, as well as capacity building.


Clic here to read the story from its source.