Egypt Seeks WB Financing for Micro-Buses Replacement Project

Egypt Seeks WB Financing for Micro-Buses Replacement Project

Egypt’s Prime Minister, Moustafa Madbouly, has praised the existing cooperation with the World Bank during his meeting with WB President, David R. Malpass in Washington. The meeting was also attended by the Minister of Investment and International Cooperation, the Minister of Petroleum, the Minister of Finance, the Minister of Trade and Industry, and Egypt’s ambassador to the US, citing a governmental statement.

Moreover, the Minister of Petroleum and Mineral Resources, Tarek El Molla, highlighted the ambitious project adopted by the Egyptian government for replacing diesel-powered micro-buses with either natural gas or combined cycle (CC) gas/fuel micro-buses aiming to optimize the use of resources.

El Molla added that Egypt is looking forward to the WB’s contribution to financing this project, whether in terms of the replacement program or the establishment of natural gas supply stations.

On the other side, Malpass appreciated Egypt’s keenness to launch a technical support program with the International Monetary Fund (IMF), which maintains the economic successes achieved, as well as boosts international institutions’ involvement in all the development fields in Egypt.


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