World Bank's president kicks off visit to Egypt in June

World Bank Group President Jim Yong Kim will embark on an official visit to Egypt on June 9 to meet President Abdel Fattah El Sisi and Prime Minister Ibrahim Mahlab.

Kim would lead an official delegation during his visit to meet a group of top officials and ministers too, said World Bank Vice President for the Middle East and North Africa region Hafez Ghanem.

The delegation is expected to review with Egyptian side the possible assistance needed by Cairo for economic and social reform, Ghanem said.

The group approved an increase of fund provided to Egypt during the coming four years, he said. The government will receive $4 billion during this period.

"Increasing fund means Egypt is on the right track," he told reporters in Cairo.

During the past two months, Cairo received $900 million to finance the one-million-unit project conducted by the housing ministry and the project of Takaful (Solidarity) and Karama (Dignity) conducted by the social solidarity ministry, he added.