Egyptian President al-Sisi met World Bank President Jim Young-Kim in New York to discuss cooperation
Egyptian President Abdel Fattah al-Sisi met Thursday with World Bank President Jim Young-Kim in New York on the sidelines of the UN General Assembly to discuss cooperation between Egypt and the World Bank, the presidency said in a statement Thursday.

President Sissi expressed Egypt's appreciation for the World Bank's efforts to support the country's economic reform program through development projects.

In December, Egypt is due to receive the third and final installment of $ 1 billion from the World Bank's $ 3 billion loan.

In late March, the World Bank announced that it had handed over the second tranche of $ 1 billion to Egypt, with funds allocated to help control fiscal conditions, ensure energy supplies in Egypt and enhance competitiveness in the private sector.

Egypt received the first tranche of the loan in September 2016.

According to the Bank's data, the current World Bank portfolio in Egypt includes 26 projects for a total commitment of $ 5.92 billion.

World Bank President Jim praised the economic reforms adopted by Egypt.

Jim and Sisi also discussed the positive results achieved through the economic reform program, such as increased foreign reserves, Egyptian exports and foreign investments in the country.

The Egyptian president left New York on Thursday after a five-day visit, attending the 72nd General Assembly meetings and meeting with world leaders on the sidelines of the summit.

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