WASHINGTON, March 12, 2015 – World Bank Managing Director and Chief Operating Officer, Sri Mulyani Indrawati will visit Egypt and Tunisia from March 12 to March 19 to hold meetings with government officials and visit World Bank funded projects.
In Egypt, Dr. Indrawati will lead the World Bank Group’s delegation to the Egypt Economic Development Conference in Sharm El Sheikh. The delegation will include: Jin-Yong Cai, Executive Vice President and CEO of the International Finance Corporation, the World Bank Group private sector arm; Dimitris Tsitsiragos, IFC Vice President for Global Client Services; Hafez Ghanem, World Bank Regional Vice President for the Middle East and North Africa region, as well as senior managers.
Dr. Indrawati is scheduled to speak at the conference before holding official meetings in Cairo and visit World Bank funded projects, including the Giza North Power Plant project which demonstrates the Bank’s support to reliable energy supply and is creating opportunities for local communities. She will also visit the Enhancing Access to Finance MSE’s project that is generating employment for underserved communities. Dr. Indrawati will have the chance to engage with the business community, civil society representatives including youth to discuss the various challenges they are facing such as education and finding employment.
“This visit will be an opportunity to deepen our ongoing dialogue with our Egyptian counterparts at this critical stage in the country’s development,” said Sri Mulyani Indrawati, World Bank Managing Director, “Promoting social inclusion and shared prosperity will be as critical as fostering growth.”
In Tunisia, Dr. Indrawati will meet the Tunisian President, Béji Caid Essebsi and Prime Minister Habib Essid and members of his cabinet. She will also visit Sonede, the national water utility to see the results of a World Bank supported urban water supply project and a micro-finance project funded by the International Finance Corporation, where key beneficiaries are women. The program includes a dinner with civil society representatives to hear differing views on Tunisia’s social and economic challenges. Dr. Indrawati will also participate in a university debate on potential lessons from global experience for the post-transition period in Tunisia.
“This will be my first visit to Tunisia since taking up my post as vice president earlier this month,” said World Bank Regional Vice President Hafez Ghanem. “I look forward to discussing with the government and civil society how Bank support can best help channel the momentum of the political transition into creating an open and dynamic economy that attracts investment and provides opportunities for all Tunisians.”
Ahead of the visit to Egypt and Tunisia, Ghanem will visit Saudi Arabia March 11-12 for official meetings with the government and Arab development funds.
The World Bank’s current portfolio in Egypt amounts to US$5.4 billion and includes 26 projects in key sectors such as energy, transport, water and sanitation, agriculture and irrigation as well as health and education. In Tunisia, the World Bank has a US$1.2 billion portfolio aimed at supporting economic recovery and strengthening governance with projects such as budget support loans, a line of credit for small and medium enterprises, and preparation of high impact investment projects in key sectors such as decentralization, vocational training, and private sector development.
About the World Bank Group
The World Bank Group plays a key role in the global effort to end extreme poverty and boost shared prosperity. It consists of five institutions: the World Bank, including the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA); the International Finance Corporation (IFC); the Multilateral Investment Guarantee Agency (MIGA); and the International Centre for Settlement of Investment Disputes (ICSID). Working together in more than 100 countries, these institutions provide financing, advice, and other solutions that enable countries to address the most urgent challenges of development. For more information, please visit www.worldbank.org, www.miga.org, and ifc.org.