World Bank enhances financial support to Egypt by 243%

The World Bank’s financial package to Egypt this year amounted to USD 1.4 billion, which is 243% extra as compared to USD 408 million of 2014. This financial help to Egypt is allocated for five different sectors which include, housing finance support for low-income households, a low-cost natural gas supply, income support to approximately 1.5 million low-income Egyptian families, microfinance project to support small and medium-sized enterprises and a comprehensive healthcare support. The healthcare program focuses on all Egyptian families for next five years with USD 275 million funding expecting the bank’s board approval. The Egyptian government is in conversation with the World Bank to receive a new loan of USD 300 million to assist healthcare services in government hospitals in form of providing medical devices and the removal of defective medicines from government hospitals.