{"id":584037,"date":"2023-03-26T00:00:00","date_gmt":"2023-03-26T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/26\/egypt-secures-usd-7-bn-world-bank-loan-to-support-private-sector-climate-goals\/"},"modified":"2023-03-26T00:00:00","modified_gmt":"2023-03-26T00:00:00","slug":"egypt-secures-usd-7-bn-world-bank-loan-to-support-private-sector-climate-goals","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/26\/egypt-secures-usd-7-bn-world-bank-loan-to-support-private-sector-climate-goals\/","title":{"rendered":"Egypt secures USD 7 bn World Bank loan to support private-sector, climate goals"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">The World Bank will lend Egypt USD 7 bn over the next five years<\/span><span style=\"\"> to support <\/span><span style=\"\">private-sector job growth, health and education services, and climate measures<\/span><span>, it said in a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.worldbank.org\/en\/news\/press-release\/2023\/03\/21\/egypt-world-bank-group-launches-new-partnership-framework-to-support-green-resilient-and-inclusive-development\" style=\"\">statement<\/a><\/span><span style=\"font-weight:400;\"> Wednesday. The Country Partnership Agreement, approved by the bank\u2019s executive board on Tuesday, will see the International Bank for Reconstruction and Development (IBRD) provide USD 1 bn a year through to 2027 and the International Finance Corporation (IFC) lend USD 2 bn during the period. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The plan: <\/span><span style=\"font-weight:400;\">The agreement looks to achieve its goals by creating more and better private-sector jobs, improve the provision of health and education services, and strengthen the country\u2019s resilience to macro-economic and climate-related shocks.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">It\u2019s been two years since the last CPF ended:<\/span><span style=\"\"> The previous CPF initially covered FY 2015 - 2019, and was <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2019\/05\/02\/world-bank-group-extends-egypts-country-partnership-framework-to-2021\/\" style=\"\">extended<\/a><\/span><span style=\"font-weight:400;\">for an additional two years to end in 2021. It included a total of USD 8 bn of WBG financing \u2014 of which USD 6 bn was allocated from the IBRD and, again, USD 2 bn from IFC.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The news got attention overseas:<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/apnews.com\/article\/egypt-economy-climate-change-world-bank-448c437ce3aef8c3e622b8b718b9002d\" style=\"\">AP<\/a><\/span><span style=\"\"> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.reuters.com\/world\/africa\/world-bank-agrees-7-bln-framework-with-egypt-2023-03-22\/\" style=\"\">Reuters<\/a><\/span><span style=\"\"> | <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-03-22\/world-bank-approves-five-year-plan-to-support-egypt-development\" style=\"\">Bloomberg<\/a><\/span><span style=\"\">. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The funding includes USD 1 bn a year from the IBRD<\/p>\n","protected":false},"author":1,"featured_media":584038,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7576],"tags":[101,72,3146,759,321],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-584037","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development-finance","tag-development-finance","tag-enterpriseam","tag-ibrd","tag-international-finance-corporation","tag-world-bank","wpautop","entry"],"acf":{"mongo_id":"55ed1a19-6f3f-4d9a-a744-9e4c3520dc08","order":"0","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/3\/422.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt secures USD 7 bn World Bank loan to support private-sector, climate goals","related_issue":[584030],"teaser":"The funding includes USD 1 bn a year from the IBRD","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/3\/.413dcc1a-14c0-48e3-9128-c9a31f7596ac.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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The facility will focus on improving Egypt\u2019s medical infrastructure through the distribution of essential medical supplies, supporting quarantine and treatment facilities, and ramping up contact tracing capabilities through\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":592682,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/04\/world-bank-sees-egypts-gdp-growth-outpacing-mena-average-this-year\/","url_meta":{"origin":584037,"position":1},"title":"World Bank sees Egypt\u2019s GDP growth outpacing MENA average this year","author":"enterpriseam admin","date":"4 November 2019","format":false,"excerpt":"The World Bank sees Egypt\u2019s economy growing 5.5% this year, outpacing the MENA average of 1.5%, according to the World Bank\u2019s annual report (pdf). The report singles out Egypt\u2019s \u201cstrong reforms on the fiscal and energy fronts\u201d as a key driver of higher growth than its regional peers. Egypt\u2019s GDP\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/11\/2426.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":562536,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/27\/more-railway-funding-from-ibrd-moving-towards-modern-irrigation\/","url_meta":{"origin":584037,"position":2},"title":"More railway funding from IBRD + moving towards modern irrigation","author":"enterpriseam admin","date":"27 May 2021","format":false,"excerpt":"Fresh funding for our railways from IBRD: The Madbouly Cabinet signed off yesterday on a USD 362.9 mn facility from the World Bank\u2019s lending arm, the International Bank for Reconstruction and Development (IBRD) to develop and upgrade the country\u2019s rail network, according to a Cabinet statement. The funding will be\u2026","rel":"","context":"In &quot;Cabinet watch&quot;","block_context":{"text":"Cabinet watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/regulation\/cabinet-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":542810,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/18\/egypt-takes-out-usd-10-3-bn-of-development-loans-in-2021\/","url_meta":{"origin":584037,"position":3},"title":"Egypt takes out USD 10.3 bn of development loans in 2021","author":"enterpriseam admin","date":"18 January 2022","format":false,"excerpt":"Egypt borrowed USD 10.3 bn from bilateral and multilateral lenders in 2021, according to the International Cooperation Ministry\u2019s annual report (pdf) published yesterday. Most of the funding \u2014 USD 8.7 bn \u2014 went to the public sector, while the remaining USD 1.6 bn went to private-sector initiatives.The key public sector\u2026","rel":"","context":"In &quot;DEBT WATCH&quot;","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/1\/208.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":568247,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/23\/the-year-in-development-finance\/","url_meta":{"origin":584037,"position":4},"title":"The year in development finance","author":"enterpriseam admin","date":"23 December 2020","format":false,"excerpt":"The International Cooperation Ministry marshaled USD 9.8 bn to finance development projects in 2020, with USD 6.7 bn allocated to government projects and USD 3.1 bn going to support the private sector, Minister Rania Al Mashat said yesterday during the launch of the ministry\u2019s annual report (pdf). Al Mashat \u2014\u2026","rel":"","context":"In &quot;SMART POLICY&quot;","block_context":{"text":"SMART POLICY","link":"https:\/\/enterpriseam.com\/egypt\/category\/smart-policy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/12\/391.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":617256,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/03\/19\/world-bank-pledges-usd-6-bn-financing-package-for-egypt\/","url_meta":{"origin":584037,"position":5},"title":"World Bank pledges USD 6 bn financing package for Egypt","author":"enterpriseam admin","date":"19 March 2024","format":false,"excerpt":"The funds will be split between the government and Egyptian private sector","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/1608.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/584037","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=584037"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/584037\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/584030"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/584038"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=584037"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=584037"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=584037"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=584037"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=584037"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}