{"id":630448,"date":"2018-04-22T04:08:42","date_gmt":"2018-04-22T04:08:42","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/22\/egypt-and-world-bank-sign-usd-500-mn-education-reform-loan-as-spring-meetings-wrap-up-in-dc\/"},"modified":"2018-04-22T04:08:42","modified_gmt":"2018-04-22T04:08:42","slug":"egypt-and-world-bank-sign-usd-500-mn-education-reform-loan-as-spring-meetings-wrap-up-in-dc","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/22\/egypt-and-world-bank-sign-usd-500-mn-education-reform-loan-as-spring-meetings-wrap-up-in-dc\/","title":{"rendered":"Egypt and World Bank sign USD 500 mn education reform loan as Spring Meetings wrap up in DC"},"content":{"rendered":"<p><a id=\"tldr-story-01\" class=\"content-anchor\"><\/a> <strong>Egypt and the World Bank signed yesterday a <\/strong><a href=\"https:\/\/enterprise.press\/stories\/2018\/04\/15\/world-bank-approves-usd-500-mn-loan-to-fund-egypt-k-12-education-reforms\/\"><strong>USD 500 mn loan agreement<\/strong><\/a><strong> aimed at supporting the state\u2019s K-12 educational reform strategy. <\/strong>\u201cThe five-year project aims to expand access to quality kindergarten for around 500k children, train 500k teachers and education officials, while providing 1.5 mn students and teachers with digital learning resources. In addition, more than 2 mn students will benefit from the new student assessment and examinations system,\u201d <a href=\"http:\/\/www.worldbank.org\/en\/news\/press-release\/2018\/04\/21\/world-bank-and-egypt-sign-us500-million-project-to-bring-learning-back-to-public-schools\">the WB said in a statement<\/a>.<\/p>\n<p><strong>The skills business is looking for: <\/strong>\u201cFostering skills such as critical thinking, managerial skills and working collaboratively, will usher in a new economy, where learning, innovation, and technology are front and center,\u201d said WB MENA Vice President Hafez Ghanem.<\/p>\n<p><strong>Background: <\/strong><a href=\"http:\/\/documents.worldbank.org\/curated\/en\/346091522415590465\/Egypt-Supporting-Egypt-Education-Reform-Project\">The new system<\/a> will be implemented as of the new academic year starting in September for kindergarten and students in the first years of primary and secondary education. It\u2019s expected to cost a total USD 2 bn when all is said and done. Education Minister Tarek Shawky <a href=\"https:\/\/enterprise.press\/stories\/2018\/04\/17\/egypt-could-ask-world-bank-for-larger-funding-package-for-educational-reform-minister-says-as-he-unveils-educational-reform-strategy\/\">had said last week<\/a> that President Abdel Fattah El Sisi had instructed government officials to open talks with the World Bank for a larger USD 1 bn funding package for the reform program. <a href=\"https:\/\/enterprise.press\/stories\/2018\/04\/17\/egypt-could-ask-world-bank-for-larger-funding-package-for-educational-reform-minister-says-as-he-unveils-educational-reform-strategy\/\">Read our Spotlight on the educational reform plan for a refresher<\/a>.<\/p>\n<p><strong>The agreement was signed on the sidelines of the World Bank and IMF Spring Meetings in Washington, DC,<\/strong> which wrapped up on Friday and saw Nasr, <a href=\"http:\/\/www.mof.gov.eg\/Arabic\/MOFNews\/Media\/Pages\/releas-a-21-4-18.aspx\">Finance Minister Amr El Garhy<\/a>, and <a href=\"https:\/\/www.youm7.com\/story\/2018\/4\/20\/%D8%B7%D8%A7%D8%B1%D9%82-%D8%B9%D8%A7%D9%85%D8%B1-%D9%88%D9%88%D8%B2%D9%8A%D8%B1-%D8%A7%D9%84%D9%85%D8%A7%D9%84%D9%8A%D8%A9-%D9%8A%D8%B4%D8%A7%D8%B1%D9%83%D8%A7%D9%86-%D9%81%D9%89-%D8%A7%D8%AC%D8%AA%D9%85%D8%A7%D8%B9-%D9%85%D8%AC%D9%84%D8%B3-%D8%A7%D9%84%D9%85%D8%AD%D8%A7%D9%81%D8%B8%D9%8A%D9%86-%D8%A8%D8%B5%D9%86%D8%AF%D9%88%D9%82\/3755997\">CBE Governor Tarek Amer<\/a>meet with various state officials and leading figures from the international business community<\/p>\n<p><strong>IMF boss Christine Lagarde <\/strong><a href=\"http:\/\/www.almalnews.com\/Story\/373246\/15\/%D8%A7%D9%84%D9%86%D9%82%D8%AF-%D8%A7%D9%84%D8%AF%D9%88%D9%84%D9%8A-%D8%A7%D9%86%D8%AA%D8%B9%D8%A7%D8%B4%D8%A9-%D9%88%D8%A7%D8%B6%D8%AD%D8%A9-%D9%81%D9%89-%D8%A7%D9%84%D9%86%D9%85%D9%88-%D9%88%D8%A7%D9%84%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1-%D8%A8%D9%85%D8%B5%D8%B1\"><strong>showered Egypt with praise<\/strong><\/a>at the gatherings,commending the economic reforms of the last two years, among them the float of the EGP, rebuilding the country\u2019s FX reserves and expansion of the social safety net, which she said have already made an impact, as evident by the levels of increased investment in the country \u2014 both foreign and local. The reform program also received praise from <a href=\"http:\/\/www.miic.gov.eg\/Arabic\/MediaCenter\/News\/Pages\/-%D8%A7%D9%84%D8%A5%D8%B5%D9%84%D8%A7%D8%AD%D8%A7%D8%AA-%D8%A7%D9%84%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF%D9%8A%D8%A9-%D9%81%D9%8A-%D9%85%D8%B5%D8%B1-%D8%B2%D8%A7%D8%AF%D8%AA-%D9%85%D9%86-%D9%82%D8%AF%D8%B1%D8%AA%D9%87%D8%A7-%D8%B9%D9%84%D9%89-%D8%AC%D8%B0%D8%A8-%D8%A7%D9%84%D9%85%D8%B2%D9%8A%D8%AF-%D9%85%D9%86-%D8%A7%D9%84%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1%D8%A7%D8%AA-%D8%A7%D9%84%D8%A3%D8%AC%D9%86%D8%A8%D9%8A%D8%A9-%D8%A7%D9%84%D9%85%D8%A8%D8%A7%D8%B4%D8%B1%D8%A9%D8%8C-%D8%B1%D8%A6%D9%8A%D8%B3-%D9%85%D8%AC%D9%85%D9%88%D8%B9%D8%A9-%D8%A7%D9%84%D8%A8%D9%86%D9%83-%D8%A7%D9%84%D8%AF%D9%88%D9%84%D9%8A.aspx\">World Bank President Jim Yong Kim<\/a> and the IMF\u2019s Middle East & Central Asia Department <a href=\"https:\/\/www.youm7.com\/story\/2018\/4\/20\/%D8%B5%D9%86%D8%AF%D9%88%D9%82-%D8%A7%D9%84%D9%86%D9%82%D8%AF-%D9%85%D8%B5%D8%B1-%D9%88%D8%B5%D9%84%D8%AA-%D8%A5%D9%84%D9%89-%D9%85%D9%86%D8%AA%D8%B5%D9%81-%D9%85%D8%AF%D8%A9-%D8%A8%D8%B1%D9%86%D8%A7%D9%85%D8%AC-%D8%A7%D9%84%D8%A5%D8%B5%D9%84%D8%A7%D8%AD-%D9%88%D8%A7%D9%84%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF\/3755676\">Director Jihad Azour<\/a>.<\/p>\n<p><strong>Nasr and El Garhy also met with <\/strong><a href=\"http:\/\/www.miic.gov.eg\/Arabic\/MediaCenter\/News\/Pages\/%D8%A7%D9%84%D8%AF%D9%83%D8%AA%D9%88%D8%B1%D8%A9-%D8%B3%D8%AD%D8%B1-%D9%86%D8%B5%D8%B1-%D8%AA%D9%84%D8%AA%D9%82%D9%8A-%D9%85%D8%B9-%D8%A7%D9%84%D9%85%D8%B3%D8%AA%D8%AB%D9%85%D8%B1%D9%8A%D9%86-%D9%81%D9%8A-%D8%BA%D8%B1%D9%81%D8%A9-%D8%A7%D9%84%D8%AA%D8%AC%D8%A7%D8%B1%D8%A9-%D8%A7%D9%84%D8%A3%D9%85%D8%B1%D9%8A%D9%83%D9%8A%D8%A9-%D8%A8%D9%88%D8%A7%D8%B4%D9%86%D8%B7%D9%86.aspx\"><strong>a number of US investors<\/strong><\/a><strong> to discuss ongoing reforms in Egypt. <\/strong>El Garhy sat down with executives from Merrill Lynch, officials from the Council of Foreign Relations, as well as representatives of rating agencies Moody\u2019s, S&P, and Fitch, <a href=\"http:\/\/www.mof.gov.eg\/Arabic\/MOFNews\/Media\/Pages\/releas-a-20-4-18.aspx\">according to a Finance Ministry release<\/a>, with whom he discussed the state IPO program, as well as plans to increase revenues from tax collections and gradually reduce the budget deficit and Egypt\u2019s sovereign debt as a percentage of GDP. <a href=\"https:\/\/mirasco.com\/\">Companies such as Mirasco<\/a> expressed interest in entering the Egyptian market.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Egypt and the World Bank signed yesterday a USD 500 mn loan agreement aimed at supporting the state\u2019s K-12 educational reform strategy. \u201cThe five-year project aims to expand access to quality kindergarten for around 500k children, train 500k teachers and education officials, while providing 1.5 mn students and teachers with digital learning resources. In addition, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-630448","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"a2061a40-aa8a-4b5e-90a8-0d61b932d364","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[630441],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Egypt and World Bank sign USD 500 mn education reform loan as Spring Meetings wrap up in DC - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/22\/egypt-and-world-bank-sign-usd-500-mn-education-reform-loan-as-spring-meetings-wrap-up-in-dc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt and World Bank sign USD 500 mn education reform loan as Spring Meetings wrap up in DC\" \/>\n<meta property=\"og:description\" content=\"Egypt and the World Bank signed yesterday a USD 500 mn loan agreement aimed at supporting the state\u2019s K-12 educational reform strategy. \u201cThe five-year project aims to expand access to quality kindergarten for around 500k children, train 500k teachers and education officials, while providing 1.5 mn students and teachers with digital learning resources. 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Funding deployed under the five-year Supporting Egypt Education Reform Project includes earmarks for improving early childhood education (USD 100 mn), training teachers and\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":627049,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/18\/house-signs-off-on-a-number-of-international-agreements\/","url_meta":{"origin":630448,"position":1},"title":"House signs off on a number of international agreements","author":"enterpriseam admin","date":"18 July 2018","format":false,"excerpt":"House signs off on a number of international agreements, including USD 500 mn from World Bank: The House of Representatives signed off yesterday on a number of international agreements, including a USD 500 mn loan from the World Bank aimed at supporting the state\u2019s K-12 educational reform strategy, according to\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":592838,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/07\/cabinet-approves-usd-500-mn-world-bank-loan-for-egypts-social-housing\/","url_meta":{"origin":630448,"position":2},"title":"Cabinet approves USD 500 mn World Bank loan for Egypt\u2019s social housing","author":"enterpriseam admin","date":"7 November 2019","format":false,"excerpt":"CABINET WATCH- Ministers approve World Bank social housing loan: The Madbouly Cabinet signed off on the USD 500 mn loan Egypt is receiving from the World Bank to finance its social housing projects, according to a statement. Prime Minister Moustafa Madbouly had requested the financing in July of last year\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":625699,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/08\/13\/egypt-seeks-usd-2-bn-in-funding-for-education-reform\/","url_meta":{"origin":630448,"position":3},"title":"Egypt seeks USD 2 bn in funding for education reform","author":"enterpriseam admin","date":"13 August 2018","format":false,"excerpt":"Egypt seeks USD 2 bn in funding for education reform: The government is apparently holding talks with international development partners for USD 2 bn in new facilities to fund its drive to reform K-12 education in Egypt, according to World Bank documents seen by El Masdar. The documents appear to\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":624268,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/04\/world-bank-offers-usd-500-mn-loan-to-support-egypts-cash-subsidy-programs\/","url_meta":{"origin":630448,"position":4},"title":"World Bank offers USD 500 mn loan to support Egypt\u2019s cash-subsidy programs","author":"enterpriseam admin","date":"4 September 2018","format":false,"excerpt":"The World Bank has offered a USD 500 mn loan to support Egypt\u2019s cash-subsidy programs: The news of potential limits on fresh debt comes as the World Bank has offered Egypt a USD 500 mn loan to support its Takaful and Karama cash-subsidy programs, Social Solidarity Minister Ghada Wali tells\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":628087,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/25\/parliament-signs-off-on-egp-70-3-bn-overdraft-for-fy2017-18-state-budget\/","url_meta":{"origin":630448,"position":5},"title":"Parliament signs off on EGP 70.3 bn overdraft for FY2017-18 state budget","author":"enterpriseam admin","date":"25 June 2018","format":false,"excerpt":"BUDGET WATCH- Parliament signed off yesterday on a EGP 70.3 bn overdraft for the FY2017-18 state budget, Ahram Gate reports. 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