Egypt, World Bank sign $1 billion development policy financing agreement

Egypt and the World Bank have signed a $1 billion financing agreement under the second phase of the Development Policy Financing program.

• Prime Minister Mostafa Madbouly witnessed the signing at the Foreign Ministry headquarters in the New Administrative Capital.
• Foreign Minister Badr Abdel-Aty, Egypt's governor at the World Bank, and regional director Oualid Al-Attabani signed the agreement.
• The World Bank's Board of Directors approved the $1 billion financing in May 2026.
• The program targets reforms expanding Takaful and Karama welfare beneficiaries, improving emissions monitoring, and developing carbon credit markets.
• The financing aims to support Egypt's economic reforms, expand private sector participation, improve public finance management, and advance the green economy transition.