Egyptian public, private sectors off on Apr 25 marking Sinai Liberation    Egypt's SCZONE welcomes Zhejiang Province delegation for trade talks    Beltone Venture Capital partners with Citadel International to manage $30m startup fund    S. Africa to use contingency reserves to tackle debt    Gaza health authorities urge action for cancer, chronic disease patients    Transport Minister discusses progress on supplying new railway carriages with Hungarian company    Egypt's local gold prices see minor rise on April 18th    Expired US license impacts Venezuela crude exports    Taiwan's TSMC profit ups in Q1    Yen Rises, dollar retreats as G7 eyes currency calm    Egypt, Bahrain vow joint action to end Gaza crisis    Egypt looks forward to mobilising sustainable finance for Africa's public health: Finance Minister    Egypt's Ministry of Health initiates 90 free medical convoys    Egypt, Serbia leaders vow to bolster ties, discuss Mideast, Ukraine crises    Singapore leads $5b initiative for Asian climate projects    Karim Gabr inaugurates 7th International Conference of BUE's Faculty of Media    EU pledges €3.5b for oceans, environment    Egypt forms supreme committee to revive historic Ahl Al-Bayt Trail    Debt swaps could unlock $100b for climate action    Acts of goodness: Transforming companies, people, communities    Eid in Egypt: A Journey through Time and Tradition    President Al-Sisi embarks on new term with pledge for prosperity, democratic evolution    Amal Al Ghad Magazine congratulates President Sisi on new office term    Tourism Minister inspects Grand Egyptian Museum, Giza Pyramids    Egypt's healthcare sector burgeoning with opportunities for investors – minister    Egypt starts construction of groundwater drinking water stations in South Sudan    Russians in Egypt vote in Presidential Election    Egyptian, Japanese Judo communities celebrate new coach at Tokyo's Embassy in Cairo    Uppingham Cairo and Rafa Nadal Academy Unite to Elevate Sports Education in Egypt with the Introduction of the "Rafa Nadal Tennis Program"    Egypt's powerhouse 'The Tank' Hamed Khallaf secures back-to-back gold at World Cup Weightlifting Championship"    Financial literacy becomes extremely important – EGX official    Euro area annual inflation up to 2.9% – Eurostat    Egypt builds 8 groundwater stations in S. Sudan    BYD، Brazil's Sigma Lithium JV likely    UNESCO celebrates World Arabic Language Day    Motaz Azaiza mural in Manchester tribute to Palestinian journalists    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
Mohamed Ayyad 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.