World Bank Approves $360m Loan for Egypt Post-Pandemic Recovery

The World Bank has approved a $360 million development policy financing (DPF) loan to support Egypt’s post-pandemic recovery, the lender said on Thursday.

The bank added in a statement that “to further support the achievement of the operation’s development objectives, the Asian Infrastructure Investment Bank is considering parallel financing for the operation of the same amount using the same package of policy reforms agreed with the World Bank,”

The project will focus on the immediate and critical areas of support identified by the Government of Egypt’s National COVID-19 response plan.

The project funds will support procuring and distributing medical equipment and supplies necessary for the COVID-19 response; health worker training; operations of specifically designated quarantine, isolation and treatment centres; mobilization of rapid response teams in contact tracing of COVID-19 cases; development of contextualized messaging platforms and tools to improve public awareness of COVID prevention; and innovative Monitoring and Evaluation of social distancing strategies including community mobilization.

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