On 2nd July 2018, Eng. Tarek El Molla, Minister of Petroleum and Mineral Resources, received Mr. Merza Hasan, World Bank’s Executive Director, who is visiting Cairo to discuss means of cooperation between Egypt and the World Bank, in the framework of following up the positive developments achieved by the Petroleum Sector in different activities.
In the meeting, El Molla discussed with Mr. Merza, the projects’ status, in which the World Bank participates in financing in the oil and gas domains. He also clarified the Petroleum Sector’s keenness on bolstering cooperation with the Bank to open new investment opportunities in the Petroleum Sector.
For his part, Mr. Merza asserted that his visit aims at fostering Egypt’s project to become a regional hub for trading and exchanging oil and gas, which the World Bank is fully supporting; whether by financing infrastructure, technical support, and guarantees; pointing out to the significance of the project to secure energy supplies and to boost economic and political relations among the participating countries.