Egypt has received another $US 1 billion from the World Bank to support inclusive growth programme.
The operation supports Egypt’s economic reforms through multiple projects to help Egypt reach its full potential and raise the living standards of all its people.
The loan is made for the Second Fiscal Consolidation, Sustainable Energy, and Competitiveness Programmatic Development Policy Financing (DPF) for Egypt.
“We welcome the World Bank’s support of the transformational economic reform agenda of the government. This operation is a central part of the World Bank’s support to help Egypt realise its full potential and raise the living standards of all its people,” said Egypt’s Minister of International Cooperation Sahar Nasr, who also represents Egypt on the World Bank’s Board of Governors.
The World Bank finances multiples projects in Egypt that target socio-economic reforms starting from reducing poverty levels, increasing water sanitation, improving the healthcare system in addition to supporting employment-intensive projects.