The World Bank Group Board of Executive Directors approved the new Country Partnership Framework (CPF) for Egypt, laying out the World Bank Group’s strategy in the country for FY2023–2027.
The new CPF aligns with the Government of Egypt’s Sustainable Development Strategy (SDS), “Egypt Vision 2030,” and the National Climate Change Strategy (NCCS) 2050.
The CPF builds upon a strong set of World Bank Group analytics, including the Systematic Country Diagnostic, the Country Private Sector Diagnostic and the Country Climate and Development Report.
The CPF seeks to accomplish its objectives by achieving three high-level outcomes:
1. More and better private sector jobs: through supporting the creation of an empowering environment for private sector-led investments and job opportunities as well as creating a level playing field for the private sector.
2. Enhanced human capital outcomes: through supporting the provision of inclusive, equitable and improved health and education services as well as effective social protection programs.
3. Improved resilience to shocks: through strengthened macroeconomic management, and climate change adaptation and mitigation measures.
The CPF also intends to strengthen Egypt’s role in regional integration, which has positive implications for Egypt and potentially the broader region through enhanced regional trade and greater connectivity in infrastructure, transport, energy, and labor. Through the CPF the World Bank Group will also continue to support Egypt’s ambitions to lead the climate mitigation and adaptation agenda in the region, following its presidency of COP27.
Additionally, the CPF aims to integrate two cross-cutting themes—governance and citizen engagement, and women’s empowerment— across programs.
The CPF will be implemented jointly by the World Bank, the International Finance Corporation (IFC), and the Multilateral Investment Guarantee Agency (MIGA), building on the three institutions’ current portfolios and adopting a flexible approach to lending. The CPF will be supported through a financial envelope of US$7 billion in lending (US$1 billion per year from IBRD and about US$2 billion during the entire CPF period from IFC), in addition to guarantees from MIGA. Partnerships remain a crucial component of the strategy.
Last Updated: May 05, 2023