The World Bank Group said that it intends to provide more than six billion dollars to Egypt over the next three years, with three billion dollars going to government programs and three billion dollars to support the private sector.
These amounts will be approved after the approval of the Group’s Board of Executive Directors.
According to a statement by the World Bank on Monday, these programs will focus on increasing opportunities for private sector participation in economic activity, especially through the government proposal program.
Financial pressures on the Egyptian government decreased last month after Egypt concluded a record deal to pump Emirati investments worth $35 billion to develop the “Ras El Hekma” city project, expanded a loan program with the International Monetary Fund to $8 billion instead of $3 billion, and sharply devalued the currency. .
Egyptian Finance Minister Mohamed Maait said in statements a few days ago that the government had collected a total of $20 billion in support from multiple sources after increasing the loan and proceeding with the economic reform program agreed upon with the International Monetary Fund.
On Sunday evening, the European Union signed agreements in Egypt that included a financing package worth 7.4 billion euros ($8.06 billion) over four years, including loans, investments, and cooperation in the files of immigration to Europe and combating terrorism.
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2024-04-08 04:48:34