Economics

Egypt ‘our largest client in MENA’ with important energy, transport portfolio: World Bank VP Makhtar Diop

STOCKHOLM – 20 February 2020: World Bank's Vice President for Infrastructure Makhtar Diop spoke about the lack of a holistic approach as a main challenge facing road safety worldwide, and that the bank has an important energy and transport portfolio in Egypt, during the 3rd Global Ministerial Conference on Road Safety held in Sweden.
Diop told Egypt Today Wednesday that it is important for countries to adopt a holistic approach, which allows to integrate the policy that ministries of health, cities development and urban planning transportation are implementing.
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“We should not forget the role of private sector,” Diop said. He further explained that “when you are thinking of building highways, the private sector can play any important role through PPPs or other type of intervention, and allowing the public sectors to focus on areas which the private sector is not ready to invest in.
He further spoke about financial challenges facing the shift to electric vehicles with many countries wanting to do the transition, saying “whenever we meet leaders, they want to move to a less polluting mean of transportation like e-buses and e-cars, but a cost is much higher.”
“Resources are still needed, and our institution is ready to support financially as well as other partners,” Diop stated.
He further went on saying that “energy and transport are important parts of the World Bank’s portfolio in Egypt, adding that the country is one of the World Bank’s largest clients if not the largest in the MENA region.”
The 3rd Global Ministerial Conference on Road Safety kicked off in Stockholm, Sweden Wednesday, where around 1,700 delegates from 140 countries are attending to share successes and lessons from implementation of the Global Plan for the Decade of Action for Road Safety 2011-2020.



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