Egypt awaits World Bank’s $3B budget support announcement next week

Updated 3/10/2024 1:30:00 PM
Egypt awaits World Bank’s $3B budget support announcement next week

Arab Finance: Egypt is awaiting the World Bank’s announcement of $3 billion in financing next week as support for the state’s general budget, Economy Plus reported, citing Finance Minister Mohamed Maait.

Earlier in March, the International Monetary Fund (IMF) and Egyptian authorities reached a significant agreement aimed at bolstering the country's economic outlook.

The agreement, subject to approval by the IMF Executive Board, entails a substantial augmentation of IMF support to Egypt from $3 billion to an impressive $8 billion.

 

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