11 April 2014

Egypt: Minister - Egypt Touches Positive Stances From WB, IMF

Cairo touches new positive spirit and understanding on the part of the World Bank (WB) and the International Monetary Fund (IMF) towards situations in Egypt, as government goes on carrying out the roadmap adopted following the June 30 revolution, said Minister of Planning and International Cooperation Ashraf el-Arabi.

The Minister made the remarks during an official visit to Washington to talk of economic challenges in Cairo. The meetings with the WB and the IMF's officials focused on political and economic reforms in Egypt, the minister told reporters.

Egypt senses new kind of positive spirit on the part of both international bodies following years of turmoil, he said.

"WB currently funds projects in Egypt cost $4.5 million," the minister said, adding the government would ink an agreement to take a $300-million loan from the bank.

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