Egypt’s government is looking forward to the World Bank's involvement in reconstruction efforts in the Sinai Peninsula, where the army is currently engaged in a fierce war to eliminate terrorist armed groups.
The government is currently working on developing the Sinai Peninsula quickly, said International Investment and Investment Minister Sahar Nasr after meeting with World Bank Group President Jim Yong Kim in Washington on Monday.
In a statement on Monday, Nasr said that investing in humans is a top government priority.
She also thanked the bank for supporting the strategy of developing education by 500 million dollars.
The government is working on developing Sinai as soon as possible at the directives of President Sisi, Nasr added. Both sides discussed the bank's support to the sector of energy.
A number of international financial institutions and Arab funds are working to support and finance Emaar’s Sinai project.
The army launched an operation in February to crush terrorists who have waged an insurgency that has killed hundreds of soldiers, police and residents over many years.
According to data released by military spokesmen since operations launched, clashes have killed at least 200 terrorists at least.
Battles have also caused the death of over 30 soldiers, including officers, and wounded others.
During spring WB meetings in Washington, President Kim lauded the success achieved in the Egyptian economy and laws passed for improving the investment environment.
Kim said President Abdel Fattah El Sisi had courageously eliminated the challenges facing development in Egypt and set plans that contributed to the success of the Egyptian economy.
The bank is working on investing in education, health and social protection to increase growth, Kim said.
In December 2017, Sisi announced his intention to realize a $5.6 billion urban project in the Sinai Peninsula over the next two to three years.
Sinai residents are suffering from living difficulties caused by the ongoing military operation, but the Egyptian government confirms that it covered the provision of food convoys and the distribution of large amounts of rations for citizens affected by the campaign.
