Egypt signed a $1 billion World Bank financing agreement on November 1 for the second phase of its development policy programme. The package supports private investment, public finance reforms and the green transition. It follows the bank’s approval in May and forms the second of three planned concessional operations.
Egypt signed a $1 billion agreement with the World Bank, the international development lender, on November 1. Prime Minister Mostafa Madbouly attended the ceremony at the Foreign Ministry in the New Administrative Capital. Foreign Minister Badr Abdelatty signed for Egypt, while Alwaleed Alatabani signed for the bank. The financing is the second operation in a three-stage development policy programme; the bank had approved this package in May.[1], [2]
The programme supports changes to state-owned enterprise governance, the removal of obstacles to private investment and fairer competition. Strengthening domestic revenue collection and lowering government financing costs are further stated objectives. Egypt links the reforms to its state ownership policy and efforts to expand private-sector participation. The financing falls within the bank’s country partnership framework for fiscal years 2023–2027, which includes private-sector-led job creation and economic stability.[1]
The second phase also supports wider coverage under Takaful and Karama, Egypt’s social assistance programmes. Environmental measures include improved greenhouse-gas emissions monitoring and the development of carbon-credit markets. Reforms also address the financial sustainability of electricity and water services. These measures are connected to Egypt’s 2030 development vision and its national climate strategy for 2050, alongside the programme’s objective of improving resilience to external economic and climate shocks.[1]
