Egyptian and World Bank officials met to review oil and gas projects that have received World Bank financing and to discuss future investment opportunities, Egypt Oil & Gas reports.
Representing Egypt, the Minister of Petroleum and Mineral Resources, Tarek El Molla, met with the Director of Energy and Sustainable Development at the World Bank, Lucio Munari.
Egypt would like to bolster ties with international financial institutions, such as the World Bank, to open new fields of investment in Egypt’s expanding oil and gas sector, El Molla said.
Lauding the government’s reform agenda, Munari said that the World Bank is also eager to cooperate with Egypt. He noted the success of previous projects that have enjoyed World Bank financing, such as Egypt’s efforts to link households to the national gas grid.