Egypt - Inclusive Growth for Sustainable Recovery Development Policy Financing - Chair Summary - October 26, 2021

Jul 19, 2026

Chair Summary dated October 26, 2021 records the Executive Directors’ approval of an Inclusive Growth for Sustainable Recovery Development Policy Financing operation for Egypt totaling US$360 million. The discussion highlights macro-fiscal sustainability, enabling private sector development, and advancing women’s economic inclusion to support COVID-19 restructuring and recovery while tackling long-term structural constraints. Directors emphasize reforms enabling a green, climate-friendly recovery, a MENA first gender-focused pillar, continued governance and debt management reforms, and strengthened waste management.

LanguageEnglish

CategoryResearch & Report

FormatPDF

Pages1

Reading Time3 min

Program approval and amount

Objectives: macro-fiscal, private sector, women’s inclusion

COVID-19 restructuring and long-term challenges

Reform foundations and green recovery

Gender-focused pillar in MENA

Ongoing priorities and reform pace

Role of the state, SOE governance, inequalities

Debt management and solid waste management

Collaboration and implementation support

World Bank Group, AIIB, IMF and partners

Public Disclosure Authorized Public Disclosure Authorized Egypt Inclusive Growth for Sustainable Recovery Development Policy Financing Chair Summary* October 26, 2021 The Executive Directors approved the Inclusive Growth for Sustainable Recovery Development Policy Financing for Egypt in the amount of US$360 million on the terms and conditions set out in the President’s Memorandum. Directors welcomed the focus on enhancing macro-fiscal sustainability, enabling private sector development, and fostering women’s economic inclusion to help the Egyptian authorities in the restructuring and recovery phases of the COVID-19 pandemic while addressing some of the long-term structural challenges impacting Egypt’s growth model. Directors appreciated that the focus of the operation builds on reforms supported by the previous operations to lay the basis for a green and climate-friendly recovery. They particularly welcomed that the new operation is the first in MENA to include a gender-focused pillar dedicated to the advancement of the socioeconomic conditions of women. Directors noted Egypt’s ambitious reform program that allowed the country to weather the COVID-19 pandemic relatively well and to maintain positive annual growth during the crisis. Directors encouraged the authorities to keep up the pace of reforms on revisiting the role of the state as an enabler of private sector development, strengthening the governance framework for SOEs, and enhancing inclusion and reducing gender and geographical inequalities. They also stressed the need to maintain a commitment to debt management reforms and the implementation of solid waste management. Directors appreciated the efforts of the World Bank Group in responding swiftly to client needs and encouraged closer collaboration between the Bank, the AIIB, and the IMF, as well as other development partners. They also appreciated that the World Bank Group’s engagement with Egypt extends to the medium term, including by providing implementation support through analytical and technical assistance to the reforms beyond the timeframe of the standalone operation. *This Summary is not an approved record.

FAQs

What financing was approved for Egypt and under what terms?

The Executive Directors approved Inclusive Growth for Sustainable Recovery Development Policy Financing for Egypt for US$360 million, under the terms and conditions set out in the President’s Memorandum.

What are the operation’s key focus areas?

The operation focuses on enhancing macro-fiscal sustainability, enabling private sector development, and fostering women’s economic inclusion to support Egypt’s COVID-19 restructuring and recovery.

What special gender-related design did Directors highlight?

Directors welcomed that the new operation includes the first gender-focused pillar in MENA, dedicated to advancing women’s socioeconomic conditions.

Jul 19, 2026

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