Arab Finance: Egypt inked a $1 billion financing agreement on Sunday, November 1, with the World Bank to support economic reforms, private-sector participation, and the country’s transition to a green economy, as per a statement.

The agreement was signed under the second phase of the Development Policy Financing (DPF) program, affiliated with Generating Resilience, Opportunities, and Welfare for a Thriving Egypt (GROWTH II).

Attended by Prime Minister Mostafa Madbouly, the signing was inked by Minister of Foreign Affairs and Egypt’s Governor at the World Bank Badr Abdelatty and Alwaleed Alatabani, the World Bank’s Division Director for Egypt, Yemen, and Djibouti.

Approved by the World Bank Group’s Board of Executive Directors in May 2026, the financing is the second of a three-phase development financing program supporting Egypt’s economic reform program and national development priorities.

The program focuses on creating jobs through the private sector, improving public financial management and fiscal sustainability, protecting vulnerable groups, and supporting the green transition.

لإhe agreement comes as part of Egypt’s efforts to deepen cooperation with international and regional financing institutions and secure concessional development funding, Abdelatty said.

Moreover, he emphasized the importance of strengthening economic resilience and competitiveness amid ongoing economic challenges, geopolitical tensions, and their effects on the global economy.

Abdelatty also linked the agreement to progress in economic and institutional reforms, including wider private-sector participation, fewer barriers to investment, and more efficient management of public finances. These measures help Egypt withstand external shocks while supporting sustainable growth and the shift toward a green economy.