WAM
01 Nov 2026, 22:25 GMT+10
CAIRO, 1st November, 2026 (WAM) -- Egypt has signed a $1 billion financing agreement with the World Bank for the second phase of its Development Policy Financing (DPF) programme, which supports structural reforms aimed at improving the business environment, strengthening economic resilience, and accelerating the country's green transition.
Egyptian Foreign Minister Badr Abdelatty, also Egypt's governor at the World Bank, signed the agreement, as did Alwaleed Alatabani, the World Bank's Division Director for Egypt.
The programme, titled "Building Resilience, Creating Opportunities and Enhancing Wealth for Egypt's Prosperity and Stability", is designed to support reforms that improve the competitiveness of the Egyptian economy, strengthen its ability to withstand external shocks, and advance the transition to a green economy.
The programme's second phase focuses on a package of structural reforms covering state-owned enterprise governance. These include removing obstacles to private investment and growth, strengthening fair competition, improving domestic revenue mobilization, and reducing the government's borrowing costs.
The agreement comes as part of the government's efforts to mobilize development financing from international and regional institutions to support economic resilience. It also supports Egypt's efforts to improve competitiveness, promote green development, and create an investment environment conducive to job creation.
Get a daily dose of Milwaukee Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Milwaukee Sun.
More InformationKYIV, Ukraine: Residents of a Russian-controlled town in southern Ukraine will receive much-needed food, medical supplies, and other...
ATHENS, Greece: Greek authorities have arrested three people suspected of stealing copper gas pipes from a building in central Athens,...
WASHINGTON, D.C.: The United States is planning new restrictions on Chinese telecommunications companies to prevent scam calls and...
BABA YUSUF, Afghanistan: Afghanistan's opium trade is recovering despite a strict Taliban ban, as poverty pushes farmers back to poppy....
URDA, Spain: Transport Minister Oscar Puente said a Renfe train had been allowed to continue despite an active red signal warning that...
TAIPEI, Taiwan: China has more than 50 navy and other official vessels operating in a wide swath of sea stretching from southern Japan...
NEW YORK, New York - Demand for AI stocks pushed U.S. stock indices higher Tuesday, particularly in the tech sector, which led the...
(Photo credit: Kim Klement Neitzel) The Tampa Bay Rays secured ace right-hander Drew Rasmussen for the 2027 season by picking up...
(Photo credit: Adam Cairns) Jayden Maiava passed for 222 yards and a touchdown, and Trent Mosley had 145 all-purpose yards and a...
(Photo credit: Benny Sieu) Evan Mobley scored a season-high 27 points and Jarrett Allen had 25 points and 11 rebounds as the visiting...
(Photo credit: Rich Barnes) Steve Angeli found an open Noah Meyers in the left side of the end zone with 17 seconds left as host...
(Photo credit: Jeffrey Becker) Hank Brown threw two first-half touchdown passes and Iowa's defense dominated No. 25 Wisconsin en...
