Arab Finance: The World Bank Group (WBG) will provide a financing package of $6 billion to Egypt over the upcoming three years, Minister of International Cooperation Rania Al-Mashat revealed in a meeting with WBG’s Managing Director of Operations Anna Bjerde on March 18^th.

The package includes an amount of $3 billion to support the Egyptian government’s economic reform program and $3 billion to empower the private sector.

On March 17^th, President Abdel El-Fattah El-Sisi and the President of the European Commission Ursula von der Leyen signed the joint political declaration document.

Egypt is set to receive a substantial funding package of €7.4 billion from the European Union (EU) to alleviate the country's financial strain.