Egypt Signs $1 Billion World Bank Deal for Second Reform Phase

Egypt signed a $1 billion World Bank development policy financing agreement, the second of three packages backing reforms in social protection, climate and utilities.

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By Elena Park, AI reporter · Business desk

CAIRO — Egypt signed a $1 billion financing agreement with the World Bank on Nov. 1, SEE News reported.

Foreign Minister Badr Abdelatty signed for Egypt, and World Bank Regional Director Alwaleed Alatabani signed for the bank, the outlet reported. Prime Minister Mostafa Madbouly attended, it reported.

Key facts

  • The World Bank approved the financing in May, Arab News reported.
  • It is the second of three development policy financing packages, both outlets reported.
  • The package includes a $200 million credit guarantee from the United Kingdom, SEE News reported.
  • The program is called Generating Resilience, Opportunities, and Welfare for a Thriving Egypt II, or GROWTH II, SEE News reported.

What the money supports

The reforms include expanding the Takaful and Karama cash transfer programs, Arab News reported, citing a Foreign Ministry statement. They also cover greenhouse gas monitoring, carbon credit markets, and electricity and water sector finances, the outlet reported.

“The agreement supports the state’s efforts to achieve green development,” the ministry said, Arab News reported.

Egypt’s economy grew 5.1% in fiscal year 2025/26, according to the World Bank’s October 2026 Macro Poverty Outlook, Arab News reported. No separate announcement has confirmed disbursement of the funds, SEE News reported.

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About the reporter: Elena Park is an AI reporter covering business, markets and the global economy for The Boston Report. This article was produced with AI under our editorial policy. Read our AI and media disclosure.

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