Cairo: Hafez Ghanem, World Bank Vice President for the Middle East and North Africa, said that the instability since the Arab Spring uprisings in 2011, is the biggest challenge in the region now, but the bank is optimistic the possibility to get out of the current situation as it sees signs Thassan.ovi interview yesterday Tuesday via video department said Ghanem, who took office last week, speaking of the bank's headquarters in Washington, «as long as there is no stability .. is very difficult to achieve economic development.» He added that the only country that has not changed their growth rates significantly over the past four years is Morocco ndash; according to Reuters.
The Moroccan government and ratified in October / October last draft budget 2015 law expected to reach the growth rate of 4.4 per Almih.ozkr Ghanem that the current situation in the region, making the bank gives priority to projects financed by the youth employment, social protection and building economic institutions that can implement development plans .
He added, speaking about the role of the bank «What we can do is to finance projects that help to achieve this stability, such as youth employment projects in the field of education in remote areas such as agricultural projects.» Ghanem said, the first Egyptian and Arab vice president of Bank of the Middle East and North Africa, said the bank is optimistic the possibility to get out of the current situation «because we see an improvement .. maybe not as quickly as desired, but no improvement ... in Morocco growth rate between four and five percent. In Egypt believe that growth will increase to four percent in the current year .. Tunisia also the improvement. »
He predicted Egyptian Finance Minister Hani Qadri Demian that the rate of growth in the current fiscal year exceeds four in Almih.oukal Ghanem «the most important benefit we can provide to countries in the region is our experience in different countries .. other countries faced the same problems, such as Brazil and Mexico.» He pointed out that the rates growth in many countries in the region before the Arab Spring uprisings were «very respectable» more than five percent in Egypt and Tunisia, «but people were angry». He said Ghanem, who was before his appointment to the position a great fellow at the Brookings Institution, where he led the project of Arab economies and focused Following the political transition in the Arab Economic Development «My goal is to help my government to achieve growth rates as they were and to help her on the arrival of the growth of the people.»
He added that the vision of the World Bank in the world with two goals eradicate extreme poverty and achieve equitable development that could benefit everyone, including by increasing the size of the middle class poverty. He pointed out that it gives special attention to the goal of Althani.oukal Ghanem, the bank temporarily suspended its projects in Yemen because of disorder situation there. He added, «in Yemen problem is not only security but the problem is that there is no consensus on the government, therefore we have stopped our projects since about two weeks until we see what happens.» He said «I expect to find a way to resume work.» Regarding the draft pipeline linking the Red Sea and the Dead Sea said The Bank conducted studies for the project with the Jordanian government. He added that Jordan is going to start a pilot project for the transfer of 100 million cubic meters of water annually to the Dead Sea to study the effects and then make a decision on the implementation of the project as a whole.
Ghanem said the bank participated in the preparation of the Sharm el-Sheikh, to be held this week to support the Egyptian economy, and he was optimistic the chances of success of the conference, who participated with the government in the preparatory studies for H.oukal Ghanem said the bank, which has a project portfolio in Egypt about $ 5.5 billion currently be announced during the conference for a great program for new projects covering several Qtaat.lknh did not disclose the planned projects, saying only that it was in power, social security, housing, employment and agriculture.
The «projects that will put the projects we are ready for funding. Our goal is to help the government to return to growth rates before the revolution and return to needy people up. »He said that the bank is negotiating with Egypt is currently on a project worth $ 400 million to provide monetary support to needy families through the Ministry of Social Solidarity, in simulation experiments in Latin America to ensure the delivery of support to those who deserve it. The «I hope that the project will start with the beginning of the new fiscal year. Our projects usually takes about four years. »
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