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The conference is going pretty well and here are more details about it,



The World Bank and the IMF reaffirm their support for Egypt in the chairmanship of the African Union and translate the vision of the President of the Republic to Africa to achieve sustainable economic growth of the continent.

“The Sharm el-Sheikh Declaration” at the end of the annual meetings of the African Union in the presence of 40 African countries, the Bank and the Fund call for additional support to the continent and confirms the open area for investors to invest in, thankfully.

Minister of Investment and International Cooperation has stated that “We have agreed to develop our legislative and executive mechanisms to create the right environment to encourage and attract private investment and create innovative tools for public-private partnership to finance infrastructure projects.”

Finance Minister confirmed that, “The meeting focused on discussing issues related to the overall growth of the African continent.”

The annual meetings of the African Union of the World Bank and the International Monetary Fund (IMF) were concluded on Monday, 6 August 2018, which was held under the auspices of President Abdel Fattah Al Sisi, in support of the African continent’s issues in international financial institutions and forums, also organized by the Ministries of Investment, In cooperation with the Central Bank, under the patronage of Dr. Mustafa Madbouli, Prime Minister, Sharm el-Sheikh, in the presence of 40 countries from inside and outside the African continent.

Minister of Investment and International Cooperation — Dr. Saher Nasr, and Minister of Finance — Dr. Mohamed Maait, held a press conference in which he announced the Sharm El Sheikh Declaration in the presence of Dr. Hafez Ghanem — World Bank Vice President for Africa. And transforming Mr. President’s vision for Africa to achieve sustainable economic growth for the African continent.

“We take the opportunity to renew our appreciation for the supportive work of the International Monetary Fund and the World Bank Group so far and look forward to additional appropriate support,” he said, noting that most African countries continue to implement reforms aimed at enhancing competitiveness and diversifying, also expanding the export base.

Agreement on the establishment of special economic zones, promotion of domestic and foreign direct investments and the provision of good tax incentives for investors.

“We welcome the new regional integration strategy of the World Bank Group and look forward to accelerating and expanding projects in the agriculture and energy sectors, which will enable industrialization and the competitive value chain of exports,” he added.

“Recognizing that the African continent has one of the highest ratios of PPP projects to GDP, consistent with the desire to diversify sources of infrastructure financing, while ensuring efficient service delivery, we appreciate the tools available to assess the financial risks of partnership projects between the public and private sectors.” He stated.

The Declaration emphasized the strengthening of coordination between the World Bank Group and African governments to maximize the use of financing for development, giving priority to financing projects with significant developmental and social impact that contribute to the achievement of sustainable development goals.

The African governors agreed with the World Bank and the International Monetary Fund that the digital transformation had recently emerged as an effective tool to enhance access to finance, including financing for women’s and small, medium-sized enterprises.

“Several African countries are leaders in business success stories, Which led to a significant impact on poverty reduction and achievement of development goals,” announced the Sharm el-Sheikh Declaration to increase the representation of African staff in the World Bank Group and the International Monetary Fund.

Dr. Sahar Nasr — Minister of Investment and International Cooperation, affirmed the honor and honor of the leadership, government and people of Egypt to host and preside over the annual meeting of the African Union of the World Bank and the International Monetary Fund.

“Our discussions with our African ministers have been of the same importance and our visions have agreed on the importance of redoubling efforts to address these challenges and what the World Bank and the International Monetary Fund can do to support us in supporting the development aspirations of our people’s for sustainable economic development, I am honored to announce that the Sharm el-Sheikh Declaration of this meeting was ambitious and balanced, reflecting the challenges facing us. The most important of which is the development of mechanisms for access to finance, the payment and diversification of our exports, the empowerment of the private sector and the increasing role of African and developing countries in the financial system.” She announced.

“I would like to point out more specifically that a majority, if not all, of our African countries are implementing economic reforms and ambitious economic development plans. The African ministers agreed that these plans should diversify our economic bases and increase our integration into the global economy, And develop our legislative and executive mechanisms to create the right environment to encourage and attract private investment as the main player in economic development, and create innovative tools for public-private partnership to finance infrastructure projects, as well as financial inclusion and promotion of the project. The African Union and the International Monetary Fund (IMF), will be presented at the next annual meetings in Bali in late October, which will reflect in more detail in the African economy. All the issues I have just mentioned, so that the two institutions can support the continent.” Dr Sahar Nasr added.

The World Bank and the IMF reaffirm their support for Egypt in the chairmanship of the African Union and translate the vision of the President of the Republic to Africa to achieve sustainable economic growth of the continent.

The Sharm el-Sheikh Declaration at the end of the annual meetings of the African Union in the presence of 40 African countries, the Bank and the Fund call for additional support to the continent and confirms the open area for investors to invest in.

The governors of African countries agreed at the World Bank and the International Monetary Fund to work to remove obstacles to the private sector in injecting investments, committing to policies conducive to a supportive environment for inclusive and sustainable economic growth, adjusting legal frameworks and adopting simplified investment promotion measures.

Dr. Hafez Ghanem — Vice President of the World Bank for Africa, said that the Bank supports the African continent to achieve development and poverty eradication, pointing out that Africa has great capabilities, especially that 70% of the continent of Africa is less than 30 years old.

He explained that Egypt is one of the most countries that has carried out economic reforms over the past years, and thanked the Egyptian government for organizing this conference.

What an amazing conference and we look forward to an amazing future.

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Sax player Rahma Hassan, Wael Jassar and Mustafa Kamel perform a concert at the Aspero Restaurant Complex




In a family meeting on the banks of the Nile, businessman Gerges Espero opened his new restaurant on the promenade of the people of Egypt under the name Espero Restobar. The Eventadora Company supervised and organized the party, which was revived by the artist Wael Jassar and the artist Mustafa Kamel, captain of the musical professions and sax player Rahma Hassan, and DJ Khaled Hussein in The opening of the Aspero restaurant complex in the Ahl Masr walkway on the Nile Corniche, in the presence of a group of stars of art and high society.


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Egypt mitigates, adapts to effects of climate change via 324 bn national projects: Minister



CAIRO – 8 June 2022: Egypt has success story to share with the world during its presidency of the upcoming COP27 climate conference, stated Egyptian Minister of Environment, Dr. Yasmine Fouad.

She referred to Egypt’s national projects in the fields of mitigation and adaptation with climate change, saying that the cost of mitigation programs in Egypt reaches 211 billion dollars, and the cost of adaptation programs is about 113 billion dollars, with a total of 324 billion dollar.

Minister Yasmine Fouad further explained that the list of mitigation projects includes the establishment of the Benban Solar Energy Complex; the largest complex for generating clean electricity in the Middle East, in addition to energy efficiency projects, wind energy projects, and sustainable transportation such as the Monorail project and the expanded metro network.

She also highlighted other projects aiming to convert waste into energy, and helps in integrated waste management, such as biogas projects, sanitary landfills and recycling plants.

“As for the adaptation projects, they include water rationalization, canal lining projects, sea water desalination, sewage plants, and Haya Karima initiative as an integrated model for mitigation and adaptation projects to the effects of climate change,” she added.

This also includes the implementation of natural gas delivery projects, waste management, lining canals projects and Sewage treatment plants and afforestation.

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Allianz Egypt launches the first round of Allianz Athlete Experience for Egyptian Tennis Enthusiasts to support Mayar Sherif



Cairo – May 2022: Being the exclusive official insurance sponsor of tennis champion, Mayar Sherif, the first Egyptian female tennis player to feature in the main draw of a Grand Slam tournament, Allianz Egypt launches the first round of one-of-a-kind initiative “Allianz Athlete Experience” for Egyptian tennis enthusiasts. The winners will enjoy an exclusive experience with Allianz Egypt brand ambassador and Tennis superstar Mayar in one of the sport’s most important tournaments at Roland Garros in Paris this May.
At a special ceremony held at Allianz Egypt Headquarters, Allianz Egypt announced the winners in the presence of Allianz Egypt Chairman and Board of Management, the President of the Egyptian Tennis Federation, and the winners of the competition, in addition to Allianz Egypt sports partners and ambassadors from the Olympic and Paralympic Champions.
“Over the years, Allianz Egypt, being the official insurance partner of the Olympics and Paralympics Movement, has ventured to be a strong contributor to the local sports ecosystem through supporting, encouraging and empowering national athletes and champions,” Ayman Hegazy, Chairman and CEO of Allianz Companies in Egypt, said.
Hegazy added, “We are extremely proud of our Golden girl and our Brand Ambassador Mayar Sherif for being the first Egyptian Female at Roland Garros. And we are diligent to continue providing all possible support and empowerment to her and all our champions.”

“I am honored to have Allianz Egypt – one of the distinguished sports promoters in the world- supporting me throughout my journey in raising Egypt’s name in major championships worldwide. This competition truly reflects the immense support and motivation I have been receiving from Allianz since day one and from my distinguished and strong Egyptian fan base that I sincerely and proudly consider a success.” Mayar Sherif said commenting on the initiative.
It is worth noting that Allianz Egypt intends to repeat this initiative for its ambassadors in different sports. This comes as a continuation of the company’s efforts to support the Egyptian sports ecosystem, with a special focus on tennis.
About Allianz Egypt:
Allianz is a Multinational German insurer operating since 1890. Allianz in Egypt was founded in 1976, under the name of “Arab International Insurance Company”. It was fully acquired in 2004 by Allianz under its current brand names; “Allianz Life Assurance Company – Egypt” and “Allianz Insurance Company – Egypt”, providing comprehensive and integrated insurance services, such as life insurance, medical insurance, property insurance to business partners and individuals. The company has 14 branches and has accomplished strategic partnerships with major banks operating in Egypt.

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