CAIRO, Sept 9, 2018 (MNEA) - Investment Minister Sahar Nasr had talks on Sunday with a World Bank mission in charge of following up a comprehensive programme for Sinai development. The talks tackled means of accelerating procedures for the bank to extend $1 billion in support of the project. In a statement on Sunday, Nasr underlined the importance of the World Bank's allocation of several grants for developing Sinai as the political leadership gives top priority to this project. The project will secure thousands of jobs and contribute to the development of eastern Suez Canal in order to have an all-out roads network linking the Sinai Peninsula to various governorates nationwide, she said. Arab funds; the Saudi Fund for Development, the Kuwait Fund for Arab Economic Development and the Arab Fund for Economic and Social Development, contributed $ 2.5 billion to the project, she noted. She added that Arab funds would continue buttressing the project in the coming years. The World Bank mission hailed the economic and social reform programme carried out by the Egyptian government, especially the issuance of a number of laws for improving the investment climate. The talks tackled means of backing the private sector as well as small and medium sized enterprises in Sinai.
