The Egyptian government and the World Bank have signed a $1 billion financing agreement to support the second phase of the "Development Policy Financing" program. The program aims to promote Egypt's economic resilience and stability. The agreement was signed on November 1, 2026, in the presence of Egyptian Prime Minister Dr. Mostafa Madbouly and World Bank officials.
The financing agreement is part of the World Bank's efforts to support Egypt's economic development and promote its competitiveness. The program focuses on implementing structural reforms to improve the business environment, enhance governance, and promote sustainable economic growth. The agreement was signed by Egyptian Foreign Minister Badr Abdelatty and World Bank Regional Director Walid Al-Attabani.
The $1 billion financing agreement is linked to a package of structural reforms aimed at promoting economic competitiveness, improving the business environment, and enhancing the economy's resilience to external shocks. The reforms focus on promoting good governance, removing investment obstacles, and fostering fair competition. The program also aims to promote green transformation and reduce the government's financing costs.
The second phase of the program includes social, economic, and environmental measures, such as expanding the beneficiary base of the "Takaful and Karama" programs, improving greenhouse gas emissions monitoring, and developing carbon credit markets. The program also supports the financial sustainability of the electricity and water sectors. These measures aim to promote sustainable economic growth and improve the living standards of Egyptian citizens.
The program also supports the automatic inclusion of "Takaful and Karama" beneficiaries in the comprehensive health insurance system, providing them with access to basic services and enhancing their ability to cope with rising prices and economic changes. This measure aims to promote social protection and reduce poverty in Egypt.
The World Bank's financing agreement with Egypt is part of its efforts to support the country's economic development and promote its resilience. The program aims to promote sustainable economic growth, improve the business environment, and enhance the country's competitiveness. The agreement reflects the World Bank's commitment to supporting Egypt's economic development and promoting its stability.
The financing agreement is expected to have a positive impact on Egypt's economy, promoting sustainable growth and improving the living standards of its citizens. The program's success will depend on the effective implementation of the structural reforms and the government's commitment to promoting economic development and resilience.
Key points
- Egypt and the World Bank have signed a $1 billion financing agreement to support the country's economic development and resilience.
- The program aims to promote economic competitiveness, improve the business environment, and enhance the economy's resilience to external shocks.
- The agreement is linked to a package of structural reforms aimed at promoting sustainable economic growth and reducing poverty in Egypt.
