World Bank announces $700 million in financing for Egypt

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The World Bank announced on Monday $700 million of budget support for Egypt, part of a 3-year, $6 billion program that the bank pledged earlier this year amid a windfall of foreign financing for the indebted North African country.

The $700 million is designed to help Egypt boost private sector participation, macroeconomic and fiscal resilience, and a greener growth trajectory, the World Bank said in a statement.

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