Cairo – The World Bank Group has signed a $1 billion financing agreement with Egypt to support the second phase of the country's Development Policy Financing Programme, according to a statement from the Egyptian Cabinet.
The financing forms part of the World Bank's support for Egypt's general budget, providing additional financial backing as the North African country advances its economic and development policy agenda.
The agreement represents another significant engagement between Egypt and the World Bank as the government seeks external financing to support its budgetary requirements and economic reform priorities.
The agreement was signed on Sunday, November 1, by Egyptian Foreign Minister Badr Abdelatty, who also serves as Egypt's governor at the World Bank, and the bank's regional director, Alwaleed Alatabani. Prime Minister Mostafa Madbouly witnessed the signing ceremony.
The second phase of the programme focuses on structural reforms designed to improve the governance of state-owned enterprises, remove barriers to private-sector investment, promote fair competition, strengthen domestic revenue mobilisation and reduce government borrowing costs.
It also includes measures to expand social protection programmes, improve greenhouse gas emissions monitoring, develop carbon credit markets and strengthen the financial sustainability of Egypt's electricity and water sectors.
The World Bank approved the $1 billion financing package in May 2026 as the second operation in a three-phase development financing programme. The package includes $800 million in World Bank financing supported by a $200 million credit guarantee from the United Kingdom.
Source: Reuters
Reporting: Momen Atallah
Editing: Alison Williams
