World Bank pledges $6bln financing package to Egypt over 3 years

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Egypt is set to receive a substantial funding package of €7.4 billion from the European Union (EU) to alleviate the country's financial strain

Staff Writer, Arab Finance

March 19, 2024

EGYPT INVESTMENT

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The World Bank Group (WBG) will provide a financing package of $6 billion to Egypt over the upcoming three years, Minister of International Cooperation Rania Al-Mashat revealed in a meeting with WBG’s Managing Director of Operations Anna Bjerde on March 18th.

The package includes an amount of $3 billion to support the Egyptian government’s economic reform program and $3 billion to empower the private sector.

On March 17th, President Abdel El-Fattah El-Sisi and the President of the European Commission Ursula von der Leyen signed the joint political declaration document.

Egypt is set to receive a substantial funding package of €7.4 billion from the European Union (EU) to alleviate the country's financial strain.

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