World Bank approves $7bln finance program for Egypt

Under the program, the International Bank for Reconstruction and Development will back Egypt with $1 billion annually

Staff Writer, Arab Finance

March 22, 2023

The World Bank has endorsed a new country partnership framework with Egypt to support development projects in the country with $7 billion in financing for years 2023-2027, Asharq Business reported on March 22nd.

The finance program will be implemented by the World Bank, International Finance Corporation (IFC), and the Multilateral Investment Guarantee Agency (MIGA).

Under the program, the International Bank for Reconstruction and Development will back Egypt with $1 billion annually during the framework period, with an amount of $2 billion to be financed by the IFC.

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

ZAWYA NEWSLETTERS

RELATED ARTICLES

ZAWYA NEWSLETTERS

LATEST VIDEO