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World Bank’s active portfolio in Egypt amounts to $6.8B

World Bank’s active portfolio in Egypt amounts to $6.8B

Arab Finance: The World Bank Group's active portfolio in Egypt covers 14 projects at a total value of $6.8 billion, according to a statement by the Egyptian Ministry of International Cooperation on December 2nd.

The portfolio also shores up 23 projects for technical support and consulting across different fields of development.

The ministry recently announced that the executive directors of the World Bank endorsed two projects within the cooperation framework with Egypt; the first to support food security in the country with $500 million amid the Russian-Ukrainian crisis, and the second to develop the sustainable infrastructure of the transport sector with $400 million.

During her phone call with the President of the World Bank David Malpass, international cooperation minister Rania Al-Mashat discussed joint cooperation between Egypt and the international bank under the umbrella of the common country strategy that is expected to be launched soon.

Al-Mashat also discussed cooperation with the World Bank in supporting the government’s reform program and policies, as well as in bolstering the social protection and boosting the base of beneficiaries from the Takaful and Karama initiative.

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