The World Bank has approved a new partnership framework with Egypt for the fiscal years 2023-2027, through which Egypt will obtain financing worth USD 7 billion.
According to an official statement, the framework amounts to a billion dollars annually the International Bank for Reconstruction and Development and approximately two billion dollars over the entire partnership period of the International Finance Corporation.
The statement added that the program aims to support Egypt’s efforts and create the right conditions for green, resilient and inclusive development.
The Country Partnership Framework is implemented by the World Bank, the International Finance Corporation and the Multilateral Investment Guarantee Agency.
This framework is based on a series of studies conducted by the World Bank Group, including the Systematic Country Diagnosis (SCD) for Egypt.
It is also affiliated with the Private Sector Diagnostic Study and the Climate and Development Report for Egypt.
