The World Bank has approved a new five-year strategy for Egypt, which includes improving the nation’s business environment & supporting green development as its goals.
The strategy seeks to create private-sector jobs, support health & education services & increase Egypt’s resilience to shocks through strengthened macroeconomic management.
The agreement comes at a time when the EGP is under pressure, & several signs & investment banks point to further devaluation.
The agreement extends to 2027 by providing $1 billion/year, in addition to $2 billion from the International Finance Corporation (World Bank subsidiary focused on the private sector in emerging markets).
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