The World Bank has announced US$700 million in Development Policy Financing (DPF) for the Government of Egypt to support the country to shift toward more private sector participation, better macroeconomic and fiscal resilience, and a greener growth trajectory.

The “Generating Resilience, Opportunities, And Welfare for a Thriving Egypt” DPF is designed to help Egypt address short-term economic challenges while advancing the next generation of structural reforms to level the playing field to unleash private sector growth; build macroeconomic and fiscal resilience; and facilitate Egypt’s green transition, including by scaling up renewable energy and increasing efficiency in the electricity, water and sanitation sectors.

Minister of International Cooperation and Governor of Egypt at the World Bank H.E. Dr. Rania A. Al-Mashat said: “The Government of Egypt is undertaking ambitious economic and structural reforms aimed at creating a more competitive, green and private sector-led economy. Through this budget support instrument, the DPF with the World Bank helps advance policy reforms on three of its top national priorities: building macro-fiscal resilience, enhancing economic competitiveness and improving the business environment, and supporting the green transition. Our longstanding partnership with the World Bank underpins the realization of Egypt’s development and reform efforts.”

The DPF is the first in a programmatic series of three operations. It will help advance key reforms, including: strengthening the governance framework for state-owned enterprises through the creation of a legal basis for the State Ownership Policy; empowerment of the Egyptian Competition Authority in combatting non-competitive mergers and acquisitions; enhancing domestic revenue mobilization by ensuring the accurate assessment of payroll taxes; reducing electricity distribution system losses; improving capacity for climate adaptation and the financial sustainability of the water and sanitation sectors; scaling up renewable energy; and establishment of a voluntary carbon credit market regulatory framework.

The newly approved DPF is part of the World Bank Group’s intended 3-year $6 billion program of support for Egypt announced in March 2024 to help spur private sector growth and job creation, enhance human capital outcomes, foster climate resilience, and strengthen economic management. 

“Creating good, sustainable jobs and building resilience to climate change are critical for the current and future prosperity of Egypt’s citizens – especially the poor and vulnerable,” said Stephane Guimbert, World Bank Country Director for Egypt, Yemen&Djibouti. “Reforms supported by this operation are an important step towards a more sustainable, inclusive economy.”

The new DPF is aligned with the World Bank’s Egypt Country Partnership Framework for FY2023-FY2027, which prioritizes private sector development, and is informed by recent World Bank Group analytical work on Egypt, including the Country Private Sector Diagnostic and the Country Climate and Development Report. Of the $700 million in the current DPF, $200 million is contingent on complementary financing from development partners.

The DPF aligns with Egypt’s development priorities and national strategies, including the Sustainable Development Strategy Vision 2030, the State Ownership Policy, the National Climate Change Strategy 2050, and the Nexus of Water Food and Energy.

Distributed by APO Group on behalf of The World Bank Group.

The World Bank’s Board of Directors has approved US$600 million for Morocco, which will finance two projects to improve public service delivery, inclusiveness, and the performance of the public sector.

The first project, ‘Supporting the Implementation of SOE Reform in Morocco‘ (US$350 million), is designed to improve the governance, restructuring, competitive neutrality, and performance monitoring of state-owned enterprises (SOEs). It will do so by strengthening the state’s state-ownership functions, improving SOE governance and management practices, fostering performance monitoring – including climate impacts- and providing a framework for fair competition.

The additional financing for the ‘Public Sector Performance‘ (ENNAJAA) program (US$250 million) will continue support for the Moroccan government’s efforts to enhance performance and transparency, focusing on modernizing public administration through digitization and reforms in public financial management.

“The ultimate aim of these two projects is to enhance the performance of the public sector and elevate the quality of public services delivered to Moroccan citizens. This is in line with Morocco’s New Development Model, which stresses the need for a paradigm shift to promote inclusive, private-sector-led growth,” said Jesko Hentschel, Country Director for the Maghreb and Malta at the World Bank.

The World Bank has supported the Moroccan government in the initial stages and implementation of SOE reform by focusing on results, strengthening the reform implementation capacity of the two implementing agencies, the Ministry of Economy and Finance and the newly created state ownership agency, and encouraging coordination. These efforts have already achieved measurable results, including an increase in women’s representation on SOE boards of directors from nearly none to 30 percent, greater competitive space for the private sector, and the inclusion of climate reporting.

“The reform of SOEs is high on Morocco’s agenda, as highlighted by the last Council of Ministers chaired by His Majesty King Mohammed VI on June 1. With a vision of a prosperous Morocco, the aim is to reconfigure the public portfolio, improve its performance, and carry out reforms to ensure accessible, high-quality public services to the people,” added Jesko Hentschel.

On public sector performance, after almost two years of implementation, the initial ENNAJAA program has already shown results, including an increase of nearly 7 percent in additional tax revenues through better compliance at the national level and a 22 percent increase in revenues collected by the ten largest municipalities at the subnational level.

This additional financing for the ENNAJAA program will prioritize improving public spending efficiency and revenue management, including greater budget transparency for citizens on public spending. It will also enable the adoption of climate-sensitive budgeting, a first in Morocco, and gender-sensitive budgeting for eight ministerial departments by the end of the project in 2028.

Distributed by APO Group on behalf of The World Bank Group.

Today marks three years since the brutal murders of our colleagues, María Hernández Matas, Tedros Gebremariam and Yohannes Halefom Reda, who were killed while providing lifesaving support to communities affected by conflict in the Tigray region of Ethiopia. 

During this period, MSF has continued to engage with various representatives of the Federal Republic of Ethiopia (FDRE), and they have informed us on several occasions that an investigation into our colleagues’ killings is ongoing. While we acknowledge such a process demands thoroughness, rigour, and time, we remain hopeful the findings will be available soon. It is critical to ensure the families of María, Tedros and Yohannes receive a credible and transparent account of what happened, to recognise, honour and do justice to their memory, and to help alleviate their families’ pain.  

Sadly, the anniversary of the murders of our colleagues comes at a time where attacks against humanitarian aid workers are increasing globally, including in contexts such as Gaza and Sudan. In Ethiopia, two aid workers were killed in separate incidents as recently as 24 May and 9 June this year, like others before them in the three years since María, Yohannes and Tedros lost their lives. 

A recently passed UN Security Council resolution (#2730) urges states to carry out full, prompt and impartial investigations into violations against humanitarian aid workers in their territory. The completion of the investigation into the killing of María, Tedros and Yohannes would align with this call. More than ever, there is an urgent need for ensuring safe, rapid, and unhindered humanitarian access to reach people in need. 

Distributed by APO Group on behalf of Médecins sans frontières (MSF).

His Majesty King Mohammed VI, may God assist Him, Chairman of the Al-Quds Committee, has given His Very High Instructions to deploy a humanitarian medical aid operation for the Palestinian population of Gaza.

This aid, ordered by His Majesty the King, may God assist Him, consists of 40 tonnes of medical products containing, in particular, equipment for treating burns and surgical and traumatological emergencies, as well as essential medicines, these medical products concern both adults and children.

His Majesty the King, may God glorify Him, has kindly agreed to cover for a large part of the aid from the Sovereign’s personal funds.

The Moroccan aid will be transported via the same unprecedented land route used for the food aid operation deployed on the Sovereign’s instructions last Ramadan.

These large-scale humanitarian operations benefiting the Palestinian populations confirm the effective commitment and constant concern of His Majesty King Mohammed VI, may God assist Him, Chairman of the Al-Quds Committee, in favor of the Palestinian Cause.

Distributed by APO Group on behalf of Kingdom of Morocco – Ministry of Foreign Affairs, African Cooperation and Moroccan Expatriates.