The World Bank’s Board of Directors has approved a $360 million loan to finance development policies in Egypt, aiming to achieve economic recovery post-COVID-19.
More details🧐 This program addresses some of the long-term structural issues that affect economic growth by focusing on three main pillars: 1) enhancing public financial & macroeconomic sustainability, 2) supporting private sector development, & 3) enhancing women’s economic inclusion.
Why is this important🤔 The first pillar supports improving the management of state-owned companies by enhancing transparency & disclosures, which encourages a greener & more sustainable economic recovery.
The second pillar supports digital & financial inclusion, as well as trade facilitation & automation of its procedures. A move that would create job opportunities in the private sector.
The third pillar supports regulatory reforms that enhance women’s participation in the workforce, & aid government efforts in addressing gender-based violence.