WASHINGTON, December 17, 2015 - The World Bank’s Board of Executive Directors today approved the following project:
Egypt – First Fiscal Consolidation, Sustainable Energy, and Competitiveness Programmatic Development Policy Financing
Loan: US $1,000 million
Terms: Maturity 35 years, Grace 5 years
Project ID: P157704
Project Description: The Program will contribute to renewing the social contract and supporting economic recovery. The Program Development Objectives are to advance fiscal consolidation through higher revenue collection, greater moderation of the wage bill growth, and stronger debt management; ensure sustainable energy supply through private sector engagement; and enhance the business environment through investment laws and industrial license requirements as well as by enhancing competition.