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Egypt’s Investment Minister assumes presidency of WBG Africa

Minister of Investment and International Cooperation Sahar Nasr has assumed the presidency of the 2018 World Bank Group Africa as she heads the Egyptian delegation in the annual meetings of the World Bank (WB) in Washington. 

The minister said that Egypt would deploy all efforts to strengthen African interests and development priorities to be in line with the WB’s priorities. 

Nasr added that she will focus on youth as well as investment in infrastructure and human resources, being “the foundations of development”. 

She said that the group would execute the 2063 Agenda of the African Union and contribute effectively in meeting the global challenges of sustainable development and climate change. 

The minister called for African governors to voice out their interests and priorities and to participate in the “Investment for Sustainable Development: Africa 2017 ” forum which will be held in the Red Sea resort of Sharm El Sheikh under the auspices of the Egyptian President Abdel Fatah al-Sisi. 

The conference is organized by Egypt’s International Cooperation and Investment Ministry and the COMESA Regional investment Agency, and will take place from 7-9 December. 

Nasr highlighted that 70 percent of the African population are under the age of 35 and that by 2035, 50 percent of the youth in the labor market worldwide will be from Africa.