Egypt’s newly merged Ministry of Planning, Economic Development, and International Cooperation and the World Bank have vowed to deepen their partnership as the North African country presses ahead with economic reforms. The World Bank has already approved a $700m tranche for the program. The International Finance Corporation (IFC), the World Bank’s private sector arm, will also play a key role in the partnership. The meeting comes as the World Bank prepares to provide $6bn in financing to Egypt over the next three years. The funds will be allocated to support economic reforms and private sector development.

Source: Daily News Egypt July 28, 2024 05:32 UTC