World Bank Pledges $700 Million for Egypt's Economic Growth

The World Bank announced $700 million of budget support for Egypt, part of a larger $6 billion programme aimed at enhancing private sector participation, economic resilience, and greener growth. This initiative is part of a broader commitment to assist Egypt's economic stability and sustainable development.

The World Bank announced on Monday $700 million of budget support for Egypt, part of a 3-year, $6 billion programme that the bank pledged earlier this year amid a windfall of foreign financing for the indebted North African country.

The $700 million is designed to help Egypt boost private sector participation, macroeconomic and fiscal resilience, and a greener growth trajectory, the World Bank said in a statement.