Egypt Receives $500 Million From the World Bank for Social Safety Net

Egypt recently received a major cash infusion from the World Bank, with $500 million in development financing to expand its social safety net and protection programme in the face of global economic pressures. This funding is part of a larger $900 million investment since the programme’s launch in 2015 and will support the government’s Takaful and Karama conditional and unconditional cash transfer programme. The cash transfer programme helps those most vulnerable in Egypt, providing assistance to those who are eligible for government support. This programme is vital in the current economic climate, which has seen global economic pressures filter through to the country’s economy. The funds will help to ensure that the most vulnerable citizens of Egypt receive the assistance they need to survive and thrive. The World Bank’s investment in Egypt’s social safety net is a testament to the importance of ensuring economic stability in the country and the region. This assistance will help to reduce poverty, promote economic growth, and create more jobs. It is a sign of the commitment of the World Bank to helping those in need in Egypt and around the world.