Wapproves US$7b for development cooperation in Egypt 

<strong>W</strong><strong>B </strong><strong>approves </strong><strong>US</strong><strong>$7</strong><strong>b</strong><strong> for development cooperation</strong><strong> in Egypt </strong>

The Word Bank approved a new Country Partnership Framework at a budget of US$7 billion, including IFC-backed US$2 billion for the private sector.

The approval of the new CPF between Egypt and the World Bank Group will be covering the period from 2023 to 2027, according to the ministry of international cooperation.

The joint action support efforts to achieve comprehensive and sustainable growth in Egypt. 

The framework has three main pillars: increasing and improving job creation, empowering private sector-led investments, and creating job opportunities. The main goal of the joint cooperation is to reduce the resilience of response to current economic shocks by supporting macroeconomics and adapting to climate change.

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