World Bank agrees $7 bln, 5-year partnership with Egypt

The World Bank said on Wednesday it had approved a new $7 billion partnership agreement with Egypt for 2023-2027 with a focus on boosting private sector jobs, provision of better health and education services, and adaptation to climate change.

The Country Partnership Agreement (CPF) will entail $1 billion per year from the International Bank for Reconstruction and Development (IBRD) and about $2 billion over five years from the International Finance Corporation (IFC), a statement from the World Bank said.