Cairo – Mubasher: The World Bank has approved to provide Egypt with an additional finance worth $500 million, the country’s minister of investment and international cooperation said.
The finance will be used to support the government’s efforts in expanding and improving social safety nets, Sahar Nasr said in a statement on Wednesday.
Accordingly, social safety net expansion project will be extended for an additional period of three years, she added.
About two million underprivileged families, or around 9 million people, have been covered under the ministry’s Takaful and Karama (solidarity and dignity) programme, Nasr revealed.
The World Bank's portfolio in Egypt includes 16 projects with total commitments of $7.5 billion.
