CAIRO: President of the World Bank Group (WB,) Jim Yong Kim, arrived in Egypt Tuesday to participate in the African Blocs summit held in Sharm el-Sheikh, Youm7 reported.
Kim will head for Sharm el-Sheikh Wednesday to deliver a speech in the closing session of the tripartite of the African blocs, attended by the head of states and governments.
“Egypt’s geographical location and its role in regional stability offer a huge potential to attract investment that will generate growth and jobs,” WB quoted Kim as saying.
It is scheduled that Kim visits Luxor, Upper Egypt, to investigate a number of social projects that target deprived areas.
“I look forward to discuss how the WB can help unlocking Egypt’s potential and address the needs of the poor and vulnerable, especially in underdeveloped regions,” added Kim.
During his visit, Kim will meet President Abdel Fatah al-Sisi and Prime Minister Ibrahim Mahlab, along with some cabinet members and government leaders, according to the WB website.
This is Kim’s first visit to Egypt since he was elected a president of the WB in July 2012.
The eighth meeting of the biggest African economic blocs’ tripartite summit was launched Sunday in Sharm el-Sheikh, to establish a free trade zone between the 26 member states.
The African blocs are Southern African Development Community (SADC), the Common Market for Eastern and Southern Africa (COMESA) and the East African Community (EAC.)
The meeting will witness the signing of the African Trade Zone (AFTZ) agreement between Africa’s top three economic blocs, which will be merged into a new 26-nation free trade zone.