The World Bank Group is committed to its long-term strategic partnership with Egypt and supports the measures the country is taking for its economic recovery and restoring a sustainable path for inclusive growth.
The World Bank Group’s partnership with the Government of Egypt aims at building better lives and opportunities for people. Our programs support Egypt in the priority areas of private sector growth and job creation; enhancing human capital outcomes through inclusive social protection, health, and education systems; and fostering resilience through climate smart solutions and strengthened economic management. This includes a focus on protecting and investing in the poorest and most vulnerable, who are hardest hit by economic shocks.
Over the coming three years, the World Bank Group intends to provide more than US$6 billion of support to Egypt, including US$3 billion for financial support to Government’s programs and US$3 billion for the private sector (including mobilization) – subject to Board approval. In support of the Government’s development priorities, programs will focus on increasing opportunities for private sector participation in the economy, including through the Government’s Asset Monetization Program, strengthening the governance of state-owned enterprises, and improving the efficiency and effectiveness of public resource management. The World Bank Group will continue to explore opportunities for guarantees to support impactful private sector investments. Building on the 2022 Country Climate and Development Report and the Government’s Nexus for Water, Food and Energy platform, the World Bank Group also supports climate action in Egypt. It will also continue its support to the most vulnerable, in particular through the Government’s Takaful and Karama program. With respect to structural reforms, a Development Policy Financing (DPF) program anchored on three main pillars: (i) enhancing economic competitiveness and improving the business environment; (ii) building macroeconomic resilience; and (iii) supporting the green transition is being discussed. The DPF will support the Government in its implementation of the State Ownership Policy and reforms that level the playing field to unleash private sector growth.
This program of knowledge and financing comes under the umbrella of the Country Partnership Framework with Egypt (2023-2027) that was endorsed by the Board of Directors in March 2023. Built on extensive consultations, and aligned with various national strategies, the Framework was launched in Cairo in May 2023.
The World Bank Group’s current operational portfolio of over US$8 billion in Egypt comprises US$6 billion from the International Bank for Reconstruction and Development, US$1.9 billion from the International Finance Corporation, and US$0.5 billion from the Multilateral Investment Guarantee Agency.
