(DNE File Photo)
By Doaa Farid
Investment minister Osama Saleh met Friday with a delegation from the World Bank to discuss the latter’s plan to provide “technical assistance” during the coming period, depending on the changes taking place in the arena according to state-run Al-Ahram.
Saleh stressed the importance of the technical assistance programs and the necessity to focus on improving the performance of the real estate fund sector, in order to improve funding markets, increase the number products, support leasing and raising the efficiency of the public sector.
He also called for support of the banking sector to improve the programs of funding small and medium enterprises, and the need to take advantage of aids and grants to develop the legislative mechanism of investments.
The World Bank delegation included Loic Chiquier, director of financial & private sector development, Sahar Nasr, a bank economist and Hossam Abu Dagga, a bank official.
Sherif Sami, a board member in the Investment Authority said the “technical assistance” can offer training programs, funding for small and medium enterprises and promotion of investments.
“The World Bank can’t enter projects but through the International Finance Corporation (IFC), it can help in funding projects and giving loans to projects,” he said.
According to Al-Ahram, during the meeting the minister reviewed the areas of cooperation provided by the World Bank through the programs offered by the Deauville Partnership with Arab Countries in Transition, which is at the forefront of the “good governance project” in the Arab spring countries.
The Deauville Partnership with Arab Countries in Transition is an international effort launched by the G-8 at Deauville in 2011 to support countries in the Arab world engaged in transitions toward “free, democratic and tolerant societies.”
The delegation also presented their own aid program during the meeting which it provides to Middle East countries titled MENA MSME Facility with a value of $10m.
