The Strategist

World Bank to allocate seven billion dollars to Egypt

03/23/2023 - 03:01

Egypt will receive seven billion dollars from the World Bank for domestic initiatives up until 2027.

According to Minister of International Cooperation Rania Al-Mashat, Egypt will receive $7 billion from the World Bank for initiatives in the country between 2023 and 2027.

"The World Bank Group and the Arab Republic of Egypt have agreed to a new country plan for the years 2023–2027. Seven billion dollars have been approved by the World Bank for the new country plan, of which two billion dollars will come from the International Finance Corporation and go to the private sector, according to a statement from Al-Mashat.

The new strategy aims to attain three main goals: to prompt the private sector, invest in human capital and support climate action plan.


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