News

World Bank Disburses another $1 Billion for Socio-Economic Reform Programme

World Bank Disburses another $1 Billion for Socio-Economic Reform Programme

Photo Credit: REUTERS

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.

UK to Follow U.S. Flight Ban on Electronic Devices
US Confirms Ban of Electronic Devices on EgyptAir, Prominent Arab Airlines

Subscribe to our newsletter


News

More in News

Egyptian Minister of Social Solidarity Appointed Director of UN Office on Drugs and Crime

Egyptian StreetsNovember 22, 2019

Egypt is the 8th Safest Country Worldwide: Gallup 2019

Egyptian StreetsNovember 21, 2019

Ministry of Tourism Freezes Water Sport Licenses in the Red Sea and Sinai

Egyptian StreetsNovember 20, 2019

Egypt Secures Olympic Games Spot After Victory Against South Africa

Egyptian StreetsNovember 19, 2019

Cairo Rejects Pompeo’s Statement Legalizing Israeli Settlements

Egyptian StreetsNovember 19, 2019

Aswan International Women Film Festival to Focus on Egyptian Women in Politics

Egyptian StreetsNovember 18, 2019

Newly Appointed US Ambassador Arrives to Cairo

Egyptian StreetsNovember 18, 2019

Two Young Egyptians Slammed for Humiliating South Sudanese Refugee Student

Egyptian StreetsNovember 17, 2019