The statement stated that the framework includes the provision of one billion dollars annually from the International Bank for Reconstruction and Development and about two billion dollars during the entire partnership period from the International Finance Corporation.
The World Bank said on Wednesday that it had approved a new Country Partnership Framework with Egypt for the fiscal years 2023-2027, through which Egypt would receive $7 billion in financing.
The statement stated that the framework includes providing one billion dollars annually from the International Bank for Reconstruction and Development and about two billion dollars during the entire partnership period from the International Finance Corporation.
He added that the program aims to support Egypt’s efforts to create the appropriate conditions for achieving green, resilient and inclusive development for all.
The most important objectives of the new strategy
Increasing and improving job opportunities in the private sector: by creating a supportive environment for private sector-led investments and job creation, as well as seeking equal opportunities for the private sector.
- Enhancing human capital outcomes: by supporting the provision of better and inclusive health and education services, as well as effective social protection programmes.
- Improving resilience to shocks: by supporting macroeconomic management and climate change adaptation and mitigation measures.
The CPF is jointly implemented by the World Bank, IFC, and MIGA, building on existing project portfolios and adopting a flexible approach to financing operations.
