Egypt and the African Development Bank (AfDB) have signed a $170m agreement for the second phase of the Private Sector Development and Economic Diversification Support Program (PSD-EDSP II) to support the state budget and advance structural reforms. The Minister of Planning, Economic Development and International Cooperation, Rania Al-Mashat, and AfDB Country Manager Abdourahmane Diaw signed the agreement on Monday. The deal includes an additional $400,000 (EGP 19m) grant to enhance environmental sustainability at the Abu Rawash Wastewater Treatment Plant. The signing ceremony was attended by Deputy Minister of Finance Yasser Sobhi and Deputy Minister of Housing Sayed Ismail. The ministry previously announced that concessional financing to support the state budget between 2023 and 2026 amounts to approximately $9.5bn.

Source: Daily News Egypt January 19, 2026 16:15 UTC