– The World Bank announced USD 700 million in budget support for Egypt as part of a 3-year, $6 billion program to enhance private sector participation, macroeconomic resilience, and greener growth.

– Over the next three years, the World Bank Group plans to provide more than $6 billion in support to Egypt, with $3 billion allocated for government programs and $3 billion for the private sector, subject to Board approval.

– The World Bank Group’s existing operational portfolio in Egypt exceeds $8 billion, including $6 billion from the International Bank for Reconstruction and Development, $1.9 billion from the International Finance Corporation, and $0.5 billion from the Multilateral Investment Guarantee Agency.

The World Bank has announced USD 700 million in budget support for Egypt as part of a 3-year, $6 billion program pledged earlier this year, amid increased foreign financing for the indebted North African country.

This $700 million aims to boost private sector participation, enhance macroeconomic and fiscal resilience, and promote greener growth, according to a World Bank statement.

Over the next three years, the World Bank Group plans to provide over $6 billion in support to Egypt, including $3 billion for government programs and $3 billion for the private sector (including mobilization), pending Board approval.

Aligned with the government’s development priorities, the programs will focus on increasing private sector participation in the economy, including through the Government’s Asset Monetization Program, strengthening the governance of state-owned enterprises, and improving the efficiency and effectiveness of public resource management.

The World Bank Group’s current operational portfolio in Egypt exceeds $8 billion, comprising $6 billion from the International Bank for Reconstruction and Development, $1.9 billion from the International Finance Corporation, and $0.5 billion from the Multilateral Investment Guarantee Agency.