WASHINGTON, December 5, 2017 - The World Bank’s Board of Executive Directors today approved the following project:
Egypt - Third Fiscal Consolidation, Sustainable Energy, and Competitiveness Programmatic Development Policy Financing
IBRD Loan: US$1,150 million
Project ID: P164079
Loan maturity: 35 years – Grace period of 5 years
Project Description: The project will 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, industrial license requirements as well as enhancing competition.