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The board of directors of the Asian Infrastructure Investment Bank approved providing Egypt a development financing of $360 million to scale up impact in achieving the Sustainable Development Goals (SDGs) and achieve a robust recovery from COVID-19 pandemic.
WASHINGTON– The World Bank Board of Executive Directors approved a US$500 million loan today aimed at supporting the Colombian government’s strategy for the social and economic integration of Venezuelan migrants in that country.This is the first Deve
The World Bank’s (WB) Board of Executive Directors has approved a $360 million Development Policy Financing (DPF) loan for Egypt to support its second wave of economic reforms.
At the beginning of the Covid-19 pandemic, the World Bank made it clear that it was going to use the crisis to promote its development vision and implement far-reaching structural reforms, especially those aligned with the promotion of ‘private sector solutions’. It also made clear that it would rely on Development Policy Financing (DPF) to carry out its Covid-19 response. This report investigates the use of DPF in the WB's Covid-19 response, finding that a total of US$22.94-billion were committed for the 90 Development Policy Operations (DPOs) analysed, which included a ...
Soon after the approval, the two sides signed the loan agreements for quick disbursements. Secretary of Ministry of Economic Affairs Noor Ahmed and the World Bank’s Acting Country Director Melinda Good signed the agreements on behalf of respective sides. The ministry said the first loan pertains to the Second Securing Human Investments to Foster Transformation — Development Policy Financing (SHIFT-II) Programme worth $400m. The programme financing is aimed at strengthening civil registration and vital statistics, health and education systems essential for human capital accumulation and ...