14 December 2012

Egypt: World Bank Provides Nation With U.S.$1 Billion to Back Poverty Reduction Programs

The World Bank has announced that it will provide Egypt with one billion dollar to back poverty reduction programs in Egypt and develop social justice systems.

Prime Minister Hisham Qandil briefed a visiting delegation of the World Bank at a meeting Thursday 13/12/2012 on the latest economic developments in Egypt along with measures taken by the government in the framework of financial and structural reform program of the Egyptian economy.

The delegation underlined the world institution's keenness on supporting Egypt in two key domains, supporting the governmental institutions and boosting the social security system.

Qandil discussed the main aspects of social security programs with the delegation, noting that Egypt has already started serious measures to apply the principles of transparency.

He added that the government also prepared several laws in this respect to be presented to parliament immediately after being elected.

"Any economic programs should take into account the realization of social justice and should not harm poor classes and low-income people," Qandil affirmed.

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