{"id":616733,"date":"2024-03-10T00:00:00","date_gmt":"2024-03-10T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/03\/10\/this-evening-are-we-getting-c-usd-3-bn-from-the-world-bank\/"},"modified":"2024-03-10T00:00:00","modified_gmt":"2024-03-10T00:00:00","slug":"this-evening-are-we-getting-c-usd-3-bn-from-the-world-bank","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/03\/10\/this-evening-are-we-getting-c-usd-3-bn-from-the-world-bank\/","title":{"rendered":"THIS EVENING: Are we getting c. USD 3 bn from the World Bank?"},"content":{"rendered":"

Good afternoon, ladies and gentlemen.<\/strong> We\u2019re guzzling coffee while we still can during daylight hours as we gear up for the start of Ramadan this evening or tomorrow evening. <\/p>\n

THE BIG STORY TODAY-<\/strong><\/p>\n

World Bank to funnel c. USD 3 bn into the state\u2019s coffers: <\/strong>The World Bank is expected to extend around USD 3 bn in financing to Egypt, Finance Minister Mohamed Maait said today at a presser attended by Enterprise. The announcement gives further nuance to Maait\u2019s statement last week<\/a> that our agreement<\/a> with the International Monetary Fund could help secure a total of USD 20 bn in foreign support.<\/p>\n

ICYMI: <\/strong>The USD 20 bn figure includes around USD 11 bn from international partners \u2014 including the World Bank, European Union, Japan, and the UK \u2014 alongside the USD 8 bn IMF package we agreed on with the Fund last week and a still-in-talks USD 1-1.2 bn in climate finance under the Fund\u2019s Resilience and Sustainability Facility.<\/p>\n

The latest on our IMF package: <\/strong>The USD 8 bn loan will come with a three-year tenor, Maait said.<\/p>\n

Remember: <\/strong>The agreement<\/a> is subject to approval by the IMF\u2019s executive board, which is expected to meet to consider the pact before the end of the month, according to our sources.<\/p>\n

THE BIG STORY ABROAD<\/strong><\/p>\n

Biden\u2019s plans to accelerate the delivery of aid to Gaza are getting some ink in the<\/strong> international press. <\/strong>A US Army vessel was on its way to Gaza today with equipment for the construction of a temporary pier as part of the POTUS\u2019 plan to increase aid to Gaza, according to the Associated Press<\/a>. Setting up the jetty, alongside the airdrops conducted by the US, Jordan, and other nations, signals the growing concern about the humanitarian crisis in the enclave and the readiness to circumvent Israeli supervision of shipments by land. Israel approved the sea deliveries and stated that it would inspect the cargo heading to Gaza before it departs from a location near Cyprus.<\/p>\n

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