The $700 million is designed to help Egypt boost private sector participation
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The World Bank announced on Monday $700 million of budget support for Egypt, part of a 3-year, $6 billion programme that the bank pledged earlier this year amid a windfall of foreign financing for the indebted North African country.
The $700 million is designed to help Egypt boost private sector participation, macroeconomic and fiscal resilience, and a greener growth trajectory, the World Bank said in a statement.
(Reporting by Aidan Lewis; Editing by Alison Williams)
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