Egypt's Minister of Foreign Affairs, International Cooperation, and Expatriates Affairs Badr Abdelatty, and Alwaleed Alatabani, Regional Director at the World Bank, signed a financing agreement on Sunday, November 1, 2026. The agreement is part of the "Building Resilience, Opportunity, and Wealth for Egypt's Prosperity and Stability" program under Phase II of the Development Policy Financing (DPF) program. The ceremony was attended by high-ranking officials, including Prime Minister Mostafa Madbouly.
The financing agreement is valued at $1 billion, approved by the World Bank Group's Board of Executive Directors in May 2026. This represents the second tranche in a series of three Development Policy Financing operations provided by the World Bank to Egypt on concessional terms. The program aligns with Egypt's national development priorities and economic reform agenda, focusing on key pillars to foster private-sector-led job creation and improve public finance management.
Minister Abdelatty emphasized that the agreement is part of Egypt's efforts to expand cooperation with international and regional financial institutions. He noted that mobilizing concessional development financing aims to bolster the Egyptian economy's resilience and competitiveness, particularly amid ongoing economic challenges and geopolitical tensions. The deal reflects progress made in implementing economic and institutional reforms, especially regarding private sector participation and public finance management efficiency.
The program focuses on several key areas, including fostering private-sector-led job creation, improving public finance management and sustainability, protecting vulnerable groups, and supporting the green economy transition. These measures aim to strengthen the economy's capability to withstand external shocks while driving sustainable growth. The World Bank's support highlights international confidence in Egypt's ability to continue structural reforms and meet development goals.
The agreement was signed in the presence of Prime Minister Mostafa Madbouly, Minister of Planning and Economic Development Ahmed Rostom, and Vice Minister of Finance Yasser Sobhi. The Prime Minister and other officials acknowledged the significance of this financing agreement in supporting Egypt's economic reform agenda. The World Bank's financing will help Egypt execute policies designed to reinforce macroeconomic stability and boost competitiveness.
The Development Policy Financing program is aligned with Egypt's national development priorities, focusing on key sectors to drive growth and improve the business environment. The program's objectives include enhancing public finance management efficiency, promoting private sector participation, and supporting vulnerable groups. By achieving these objectives, Egypt aims to transition toward a green economy and improve its resilience to external shocks.
The $1 billion financing agreement demonstrates the World Bank's continued support for Egypt's economic development. The agreement is expected to contribute to Egypt's efforts to address ongoing economic challenges and drive sustainable growth. Key stakeholders, including the Prime Minister and Ministers, welcomed the agreement, highlighting its significance in supporting Egypt's economic reform agenda and development goals.
Key points
- The World Bank approved $1 billion in financing under the Development Policy Financing program in May 2026.
- The program focuses on fostering private-sector-led job creation, improving public finance management, and supporting the green economy transition.
- The financing agreement reflects progress made in implementing economic and institutional reforms in Egypt.
