World Bank proposes Egypt join new global health initiative    Egypt, India discuss expanding industrial, investment partnerships    Egypt's EDA discusses Johnson & Johnson's plans to expand investment in local pharmaceutical sector    I won't trade my identity to please market: Douzi    Sisi calls for boosting oil & gas investment to ease import burden    Egypt welcomes 25-nation statement urging end to Gaza war    Sisi sends letter to Nigerian president affirming strategic ties    Egypt, Senegal sign pharma MoU to unify regulatory standards    Egyptian pound ticks down in early Tuesday trading    Kuwait's Crown Prince, Egyptian minister discuss strengthening cooperation    Egypt, Germany to expand partnership with new €100m debt swap    Egypt's FM seeks deeper economic, security ties on five-nation West Africa tour    Egyptian Drug Authority discusses plans for joint pharmaceutical plant in Zambia    Famine kills more Gaza children as Israel tightens siege amid global outrage    Roche helps Egypt expand digital pathology and AI diagnostics    Two militants killed in foiled plot to revive 'Hasm' operations: Interior ministry    Egypt foils terrorist plot, kills two militants linked to Hasm group    Egypt, Somalia discuss closer environmental cooperation    Egypt exports 175K tons of food in one week    Giza Pyramids' interior lighting updated with new LED system    Egypt's EHA, Huawei discuss enhanced digital health    Foreign, housing ministers discuss Egypt's role in African development push    Korea Culture Week in Egypt to blend K-Pop with traditional arts    Egypt, Uruguay eager to expand trade across key sectors    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    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    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    Egypt's Democratic Generation Party Evaluates 84 Candidates Ahead of Parliamentary Vote    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.



We annually invest about $17bn in region: WB's vice president for Africa
African countries recommended to heavily invest in infrastructure, energy, ICT
Hagar Omran Published in Daily News Egypt on 05 - 08 - 2018

Vice president for the African Region at the World Bank Group, Hafez Ghanem, said that the World Bank (WB) annually invests about $17bn in the region, adding that projects' portfolio is worth $60bn in Sub-Saharan African countries.
Ghanem told Daily News Egypt on the side-lines on the 2018 African Caucus annual meetings, on Sunday, that economic growth in Africa reaches 3%. However, there is potential to accelerate growth, noting, "there are many opportunities to grow fast and we need to grow more."
He recommended that African countries heavily invest in three main sectors which are infrastructure, energy, and information and communication technology, affirming the importance of human capital development, education sector, and enhancing the regulatory framework.
Prior to Ghanem's appointment as vice president for Africa in early July 2018, he served as vice president of the WB for the Middle East and North Africa from 2015 to 2018.
The two day's 2018 African Caucus's annual meetings ended on Monday in the presence of 40 countries' representatives, the event is organised under the patronage of the Egyptian Prime Minister, Mostafa Madbouly, by Ministries of Investment and International Cooperation and Finance, in collaboration with Central Bank of Egypt.
Minister on investment and international cooperation, Sahar Nasr and Finance Minister Mohamed Moeit co-chaired the 2018 African Caucus's annual meetings while another four ministers attended the meetings including Minister of Environment Yasmine Fouad, Minister of Health Hala Zaid, Minister of Tourism Rania Mashaat, Minister of Trade and Industry Amr Nassar.

Clic here to read the story from its source.