CAIRO, July 10, 2018 (MENA) - Investment and International Cooperation Minister Sahar Nasr underlined the importance of the World Bank's support to the Egyptian housing sector especially the social housing project which is given priority by President Abdel Fattah El Sisi. The minister's remarks were made during a meeting with senior experts of the World Bank including Practice Director for Finance, Competitiveness and Innovation at the Middle East Region Najy Benhassine and World Bank Chief Technical Specialist on Finance and Markets Loic Chiquier. During the meeting, Nasr reiterated that the Egyptian government led by Mostafa Madbouli is continuing its programme for providing appropriate housing for citizens at affordable prices. She underlined the importance of the housing sector in providing infrastructure for investors, achieving sustainable development and creating job opportunities. The two sides discussed the agreements reached during the WB experts' meeting with Madbouli. They agreed on accelerating the support to social housing projects at a fund worth $ 500 million. The WB mission praised the great success of the social housing project which has been previously funded with a sum of $ 500 million presented from the international group. The WB officials termed as "a success story" the Egyptian expertise in the social housing sector, asserting that they would continue cooperation with Egypt in the various sectors so as to achieve the country's development goals. The investment minister also conferred with a WB team assigned with following up Sinai development programme led by Sameh Najeeb Wahab, the official in charge of Sinai Development Programme at the World Bank. Nasr highlighted the importance of the WB's grants to Sinai development plans, noting that the Egyptian political leadership is giving priority to this project and providing services for all Sinai districts. The two sides agreed on accelerating the WB fund to Sinai comprehensive development that would contribute to advancing the quality of life and creating job opportunities for Sinai residents.
