The World Bank, on Wednesday March 22, 2023, diaclosed that it had approved a new $7 billion partnership agreement with Egypt for the period 2023-2027.
The five-year partnership deal will focus on boosting private sector jobs, provision of better health and education services, and adaptation to climate change in the North African Nation.
The Country Partnership Agreement (CPF) will entail $1 billion per year from the International Bank for Reconstruction and Development (IBRD) and about $2 billion over five years from the International Finance Corporation (IFC), a statement from the World Bank said.
Among the goals of the program is to help create a level playing field for the private sector and to encourage investment and improve resilience to shocks through better macroeconomic management, the statement added.