At the headquarters of the Ministry of Foreign Affairs in the New Administrative Capital, Prime Minister Dr.
Mostafa Madbouly witnessed the signing ceremony of a financing agreement with the World Bank under the second phase of the Development Policy Financing (DPF) program, which falls within the broader framework of the program titled “Building Resilience, Creating Opportunities, and Strengthening Wealth for Egypt’s Prosperity and Stability.” The event was attended by Dr.
Ahmed Rostom, Minister of Planning and Economic Development, and Mr.
Yasser Sobhy, Deputy Minister of Finance for Fiscal Policies.
The agreement was signed by Dr.
Badr Abdel Aaty, Minister of Foreign Affairs, International Cooperation, and Egyptian Expatriates, in his capacity as Egypt’s Governor at the World Bank, alongside Mr.
Al-Waleed Al-Atabani, the World Bank’s Regional Director.
Strategic Context and National Directives
The agreement comes as part of the Ministry of Foreign Affairs’ efforts to implement the directives of President Abdel Fattah El-Sisi regarding the strengthening of cooperation with international and regional financing institutions.
The goal is to mobilize the development financing needed to bolster the resilience and competitiveness of the Egyptian economy, support national efforts toward green development, and create an investment-friendly environment capable of generating jobs and improving citizens’ living standards.
Program Objectives
The program aims to support the state’s efforts to enhance the competitiveness of the Egyptian economy and improve the business environment, while strengthening macroeconomic resilience against external shocks and advancing the green transition.
This is to be achieved through a package of structural reforms designed to:.
- Strengthen the governance of state-owned enterprises
- Remove obstacles facing private investment and growth
- Entrench the rules of fair competition
- Improve the efficiency of domestic revenue mobilization
- Reduce the financing costs borne by the government
Social, Economic, and Environmental Reforms
The second phase of the Development Policy Financing program includes a set of reforms with social, economic, and environmental dimensions.
Chief among these are:.
- Expanding the beneficiary base of the “Takaful and Karama” programs
- Improving the system for monitoring greenhouse gas emissions
- Developing carbon credit markets
- Enhancing the financial sustainability of the electricity and water sectors
Together, these reforms support the state’s efforts to transition toward a green economy and strengthen its capacity to confront the repercussions of climate change.
Financing Details and Strategic Partnership
It is worth noting that the World Bank Group’s Board of Directors approved, in May 2026, the provision of financing totaling one billion US dollars under the program.
This aligns with the Strategic Partnership Framework between Egypt and the World Bank Group for the period 2023–2027, reflecting the continuity of the partnership between the two sides in supporting Egypt’s development priorities and economic reform agenda.
The success in mobilizing this financing reflects the World Bank’s confidence—and that of development partners—in the economic and institutional reforms being implemented by the Egyptian state.
These include, most notably, the State Ownership Policy Document, the Government IPO Program, the Sustainable Development Strategy “Egypt Vision 2030,” and the National Climate Change Strategy 2050.
These initiatives have contributed to advancing development efforts and achieving tangible progress in a number of priority areas, thereby reinforcing the Egyptian economy’s resilience in the face of current global challenges and crises and supporting its path toward sustainable and inclusive economic growth.
Historical Documents on Display
On the sidelines of the signing ceremony, a number of historical documents from the treasures of the Ministry of Foreign Affairs archive were showcased before Prime Minister Dr.
Mostafa Madbouly.
These documents relate to the cooperation between the Egyptian state and the World Bank Group and include, most notably:.
- The founding agreement of the World Bank bearing Egypt’s signature
- The first bilateral agreement between Egypt and the Bank, dating back to 1959
- The document for the reopening of the Suez Canal, signed between Egypt and the World Bank Group
These documents reflect the depth of the long-standing relations and strategic partnership between the Egyptian government and the World Bank Group, as well as the ongoing cooperation across various fields that serve the Egyptian economy and support sustainable development efforts.
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