World Bank Group approves new financing for Egypt

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World Bank Group approves new financing for Egypt

STORY: World Bank Group approves new financing for Egypt SHOOTING TIME: File DATELINE: June 25, 2024 LENGTH: 00:00:46 LOCATION: Cairo CATEGORY: ECONOMY SHOTLIST: 1. various of banks in Egypt STORYLINE: The World Bank approved on Monday the provision of 700 million U.S. dollars in financing the Egyptian government, within the framework of the Development Policy Financing (DPF) program, to enhance macroeconomic stability. The DPF program is designed to support the government's efforts to address short-term economic challenges, contribute to strengthening structural reforms, increase the competitiveness of the economy, and improve the business environment in Egypt. Egyptian Minister of International Cooperation Rania Al-Mashat said the Egyptian government pledges to implement ambitious economic and structural reforms, aiming at creating a more competitive economy. Xinhua News Agency correspondents reporting from Cairo. (XHTV)

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