• Egypt anticipates $1.7 billion in funding from the European Union and the World Bank by the end of the year, including $1 billion from the EU and $700 million from the World Bank, backed by the UK.
• Egypt is exploring collaboration with the New Development Bank (BRICS Bank) to support projects in the Suez Canal Economic Zone, as the bank finalizes its financing program.
• The World Bank has already approved $700 million in funding under its $6 billion Development Policy Financing package, while the EU has established over 20 agreements with Egypt, tied to a €7.4 billion financing initiative.

Egypt’s Minister of Planning, Economic Development, and International Cooperation, Rania Al-Mashat, announced in press statement that the country is expected to secure USD 1.7 billion in funding from the European Union and the World Bank by the end of this year. This includes $1 billion from the European Union and $700 million from the World Bank, guaranteed by the United Kingdom.

Regarding potential funding from the New Development Bank (BRICS Bank), Al-Mashat mentioned that the bank is preparing its financing program, focusing on intercontinental collaboration, which increases the likelihood of a partnership in the Suez Canal Economic Zone.

In June, the World Bank approved USD 700 million in funding to Egypt as part of its Development Policy Financing (DPF) program. This initiative aims to promote macroeconomic stability, support the green transition, enhance competitiveness, and improve the business environment, particularly for the private sector. The DPF is part of a broader USD 6 billion, three-year financing package announced in March 2024, designed to stimulate private sector growth, human capital investment, climate resilience, and economic governance.

European Commission President Ursula von der Leyen highlighted, during an investment conference in June, that over 20 agreements or MoUs have been established with Egypt, following a 7.4 billion euros EU financing package and a March agreement aimed at stabilizing Egypt’s economy.