{"id":625220,"date":"2024-06-24T00:00:00","date_gmt":"2024-06-24T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/06\/24\/this-evening-world-bank-provides-egypt-usd-700-mn-in-development-policy-financing\/"},"modified":"2024-06-24T00:00:00","modified_gmt":"2024-06-24T00:00:00","slug":"this-evening-world-bank-provides-egypt-usd-700-mn-in-development-policy-financing","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/06\/24\/this-evening-world-bank-provides-egypt-usd-700-mn-in-development-policy-financing\/","title":{"rendered":"THIS EVENING: World Bank provides Egypt USD 700 mn in Development Policy Financing"},"content":{"rendered":"

Good afternoon, ladies and gentlemen, and happy Monday. <\/strong>This second day of the week couldn\u2019t get any better as we have news of another day off. <\/p>\n

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PSA-<\/p>\n

Public sector employees officially have Sunday, 30 June off <\/strong>in observance of 30 June Revolution Day, Prime Minister Moustafa Madbouly\u2019s office announced<\/a> today.<\/p>\n

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THE BIG STORY TODAY<\/p>\n

World Bank grants Egypt USD 700 mn in Development Policy <\/strong>Financing:<\/strong> The World Bank has announced that it will be providing Egypt with USD 700 mn in Development Policy Financing (DPF), in a move to help \u201csupport the country to shift toward more private sector participation, better macroeconomic and fiscal resilience, and a greener growth trajectory,\u201d the World Bank<\/a> and the International Cooperation Ministry<\/a> said in separate statements on Monday.<\/p>\n

The funding comes as part of a three-year USD 6 bn financing package from the Bank <\/strong>that was announced in March<\/a>, which the bank said is designed to help boost private sector growth and job creation, and to \u201cenhance human capital outcomes, foster climate resilience, and strengthen economic management,\u201d the lender\u2019s statement read. Of the USD 700 mn included in the current DPF, USD 200 mn will be contingent on complementary financing from other development partners, the bank said.<\/p>\n

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THE BIG STORY ABROAD<\/p>\n

Iranians go to the polls this Friday for the country\u2019s presidential elections<\/strong>, garnering the attention of the international press. Iran\u2019s former president Ebrahim Raisi died<\/a> after a helicopter carrying him and Foreign Minister Hossein Amirabdollahian crashed in May. Bloomberg<\/a> profiles the six men selected by Iran\u2019s Guardian Council to run in the election, the majority of whom are anti-US hard liners although Masoud Pezeshkian stands out as the sole reformist candidate. Meanwhile Reuters<\/a> spoke to young voters about the likelihood that they will take part in the election, which one described as \u201ca circus.\u201d<\/p>\n

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