Egyptian organization demands from government to reject credit facilities from World Bank

January 31st, 2016 by Editor

Egyptian organization demands from government to reject credit facilities from World Bank

 

Egyptian organization for human rights express its concern because credit facilities of World Bank.

Egyptian organization also adds; the credit facilities will be new burden for the Egyptian and new generations in the future.

World Bank released detailed document for economic reform program which required lending one billion dollars and document called no.EG-100978 in 30 jan 2016.

World Bank cooperates with African development bank and target procedures and provisions.

According to previous statements by the World Bank, the loan aims to ensure providing Egyptian budget and improving the economic environment.

The bank said it agreed with the Egyptian government to reduce the size of the central governments wages and salaries which rated 8.2%.

The document of World Bank required debt payment for 35 years and waiting 5 years.

Many provisions for scrounge in the document of World Bank to increase tax revenue on goods and services from 5.4 percent and institutions or companies which 5.4 in 2015 and 6.7 in 2018.

Beside these reduction wages and salaries which reached its value 8.2% from local output of industries in 2015 and 7.5% in 2018 and submit annual bulletin for debts for medium run and bill of electricity and energy which reached 6.6% for total local output 3.3% from 2014 to 2016 and less than it by 2018.

It also agreed to increase commissioned private sector –owned renewable energy and increasing number of private companies from 100 megawatts in October 2015 to 1.500 megawatts by the end.

The Egyptian organization see importance for government to solve problems which related to loan but increasing poverty to Egyptian people and confiscation from good future.

The organization also confirms importance of governmental role and administration reform of state for success of economy reform and support local services.

The organization emphasizes to raise the standard of living and increasing growth rates and overcoming corruption and non central of submitting public services.

The organization confirms importance of high qualified people in legal, national, financial institutions and overcoming causes of corruption with all forms and results.

It added the corruption decreases the democracy principles.

Mr.Hafez Abo Seada head of organization confirms about dangerous of new loan for Egypt and describes it with “decay of community”.

Abo Seada shows fault between wages of workers and level of services which used by citizen such “education, health, living” with unknown policy for fair distribution.

Abo Seada demands to increase salaries, good live and increasing wages to be suitable for its work and living.

He adds for necessity of respecting social and economic rights which affirmed in international convention for economic, social and culture rights. In this regard, the government should work on decreasing the gap between poor and rich not the rich people increasing richness and poor increasing poverty.

 

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