Egypt secures $1 billion from World Bank
By the AFREEQUE newsroom, based on Daily News Egypt
Egypt has signed a $1 billion financing agreement with the World Bank for the second phase of its Development Policy Financing programme. The funding is intended to support economic reforms, private investment and the green transition, according to the Egyptian government.
Egypt has signed a $1 billion financing agreement with the World Bank under the second phase of its Development Policy Financing programme. The agreement is intended to support economic reforms, strengthen the country’s resilience to external shocks and advance its green transition, according to the Egyptian government, as reported by Daily News Egypt.
The financing is intended in particular to support improvements to the business environment, private investment and the competitiveness of the economy. The programme also provides for better governance of state-owned enterprises, the removal of obstacles to investment and stronger domestic revenue mobilisation. It includes social and environmental measures, including expanding the Takaful and Karama programmes, monitoring greenhouse gas emissions and developing carbon credit markets.
The second phase is also intended to strengthen the financial sustainability of the electricity and water sectors. The World Bank’s board approved the full $1 billion package in May 2026 as part of its 2023-2027 strategic partnership with Egypt. The signing took place at the Foreign Ministry’s headquarters in the New Capital, in the presence of Prime Minister Mostafa Madbouly. Foreign Minister and Minister of International Cooperation Badr Abdelatty and World Bank Regional Director Walid Al-Atbani signed the agreement.
