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

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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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Egypt’s population hits another risky rate

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Egypt’s population hits an increase of 70% in comparison to 2015, Hala al-Said -Minister of Planning and Administrative Reform- announced that it is estimated that Egypt’s population will reach 150 million by the year 2050; seeing how birth rate has been rising since 2005 and that makes Egypt one of the highest population growth rates in the world.

Overpopulation puts the national security at risk and is considered now to be a huge issue that need to be controlled by different parties. She also stated that the government is looking forward to investing in human resources in the light of this issue, and that the constitution encourages the execution of sustainable development goals.

In a press conference that was held last Sunday by Minister of Social Solidarity Ghada Wali, it was announced that the government is working towards renovating 33 clinics that provides contraception services under the framework of the project “Two are Enough”, that aims at limiting the growth rate of population.

“Two are Enough” aims at training nurses and physicians on the area of overpopulation, and offers bonuses for volunteers who work in raising awareness in Upper Egypt which is recorded to have the highest birth rates.

Female rural leaders are also trained to advice their fellow female villagers on the issue and its risks. More than 2,000 female leaders are reaching out to villagers in their homes and the target –as a start- is to visit more than 10,000 houses in different 10 governorates across Egypt.

The campaign will carry on raising awareness through radio episodes that are to be aired on Quran channels with the cooperation of Al Azhar and Dar al-Ifta.

We hope that such tactics can actually have an impact on the mindsets of people in rural areas, and that we can witness results in the upcoming few months.

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Unearthing more of Egypt’s legacy

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Discoveries of Egypt’s treasures continues 

Missions continue to discover Egypt’s hidden treasures 

Minister of Antiquities Khaled Al-Anani announced on Wednesday that more than 200 Italian archaeological missions are working on unearthing the treasures that still lays in different sites across Egypt, and that was during the inauguration of the second conference of the Italian Archaeological missions in Egypt, the middle East and North Africa.

The conference titled “Italian Archaeology in Egypt and MENA Countries (IAM2)” was held in the ministry’s office at Ahmed Pasha Kamal Hall in Zamalek, and secretary general of the Supreme Council of Antiquities, Mostafa Waziri attended along with the Italian Ambassador to Egypt Giampaolo Cantini and other officials.

Several discoveries took place during this archeological mission, sites included Karnak Temple, Saqqara, Minya and Dahshour. During the conference, details covering those discoveries were discussed.

Another important issue that was discussed during the conference is the necessity of restoring the smuggled artifacts from Egypt. The issue was welcomed by the Italian authorities and they expressed their complete support of the case.

We hope that such a collaboration will indeed help in uncovering more of Egypt’s legacies just in time with the Grand Egyptian museum, in order to highlight and showcase those discoveries.

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Inertia Egypt Reveals Latest Updates on Joulz

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A Sunlit Neighborhood in the Heart of West Cairo

Cairo, Egypt – December 3rd, 2018: Inertia Egypt, the leading real estate developer revealed today the latest updates surrounding one of its flagship residential developments, Joulz – a neighborhood in the heart of West Cairo with a mixed-use area. Strategically located in the heart of West Cairo, Joulz is just 2 KM away from the ring road, 7 KM away from the 26th of July Corridor and 20-30 minutes away from downtown Cairo. Joulz consists of 1,150 residential units containing an array of apartments, townhouses, twin houses, and stand-alone villas. Residential units are built on 25% of the total land area, allowing for vast lush, green vegetation throughout the neighbourhood that create unique views and healthy, green environments.

The name Joulz is appropriated from Joules, the unit used to measure photons, the fundamental particle of light-without which life would not be sustainable. On that premise, Joulz architecture harnesses this light to transport its community from the smog of the city to radiance, doing so by integrating natural elements inside each home to create a cleaner and healthier lifestyle. Inertia’s architects designed each unit with big windows, spacious patios and bright sun wells that guarantee plenty of sunlight. Homes have sun study rooms, corridors are lit up by sunshine and villas have internal courtyards to ensure natural light penetrates every home.

“When we developed Joulz, we thought deeply about what makes the perfect neighborhood and developed the project accordingly. This entailed having the majority of the land used for open green spaces, facilities that encourage healthy lifestyles and outdoor activities, restaurants and cafes, medical clinics, hyper markets, banks, 24 hour security surveillance and easy accessibility to wider Cairo. All this can be found within the Joulz neighborhood which promises a friendly, warm and intimate experience real value for money for its tenants,” said Yasser Darwish, Projects Director, Inertia.

The Joulz neighbourhood has eight themed parks that make up 45,000 m2 of the development. Every park and green area will be themed differently to suit and entertain its residents. Joulz has curving jogging trails and bicycle lanes located throughout the neighbourhood that aim to maximize the resident’s experience, and to practice healthier daily habits that are hard to sustain in the city. For families with children, each area inside the compound has a nearby children’s playground to ensure children are close to their home.

 

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