Egyptian Minister of Planning, Economic Development, and International Cooperation, Dr. Rania Al-Mashat, announced that Egypt will receive funding amounting to $1.7 billion from the European Union and the World Bank before the end of the current year

Last June, the World Bank’s Board of Directors approved a $700 million financing for the Egyptian government under the Development Policy Financing (DPF) program. This funding aims to enhance macroeconomic stability, achieve growth aligned with the green transition, support competitiveness, and improve the business environment to empower the private sector

The Development Policy Financing program is part of a $6 billion funding package over three years, announced by the World Bank Group in March 2024. This package includes support to stimulate private sector growth, create job opportunities, enhance investment in human capital, improve adaptability to climate changes, and strengthen economic management

In the same context, European Commission President Ursula von der Leyen announced over 20 agreements and memorandums of understanding with Egypt during an investment conference in June, following a €7.4 billion funding package from the European Union. This is part of efforts to strengthen relations with Cairo, aiming to stabilize the Egyptian economy and reduce migrant flows to Europe.