World Bank’s portfolio in Egypt represents 13 projects worth $5.8B

World Bank’s portfolio in Egypt represents 13 projects worth $5.8B

CAIRO – 24 March 2021: World Bank Group is currently working on preparing a systematic diagnostic study on Egypt in preparation for setting up the framework for the strategic partnership for Egypt for the years 2021-2025, according to Ministry of Planning and Economic Development.

 

The Planning Ministry clarified in a Statement, Tuesday, that the strategy focuses on ways to create job opportunities and achieve social and economic inclusion.

 

It explained that the World Bank's partnership framework with Egypt includes 3 interrelated strategic focus areas in line with the Egyptian government's longer-term development strategy, which are: improving governance and good management systems, in addition to improving job creation opportunities led by the private sector, as well as supporting social inclusion.

 

The World Bank indicated that the current strategy focuses on mobilizing financing for development purposes and developing human capital, and the current World Bank portfolio in Egypt includes 13 projects (10 projects under the investment program financing tool, and 3 projects under the results-based program financing tool) with a total value of $ 5.84 billion.

 

“The Egyptian government has achieved tangible results in all three areas of focus within the framework of the strategic partnership,” The bank