World Bank and Egypt agree on $7bn framework – The National
- Date: 23-Mar-2023
- Source: The National
- Sector:Financial Services
- Country:Egypt
World Bank and Egypt agree on $7bn framework – The National
The World Bank's board has approved a new Country Partnership Framework for Egypt that provides the country with $7 billion in funds over the 2023 to 2027 fiscal years.
The framework is in line with the Egyptian government's two-pronged 2030 and 2050 development and climate change plans, the Washington-based lender said on Wednesday.
The agreement will be enforced jointly by the World Bank, the International Finance Corporation and the Multilateral Investment Guarantee Agency (Miga), building on the three institutions’ current portfolios and adopting a flexible approach to lending, the World Bank said.
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