World Bank approves $500 million in development financing to Egypt ...Egypt

The World Bank has approved US$500 million in development financing to enhance Egypt’s efforts to achieve food security, and strengthen the economy’s resilience against current global crises. According to the Ministry of International Cooperation in Egypt, the emergency response project between Egypt and the World Bank Group is scheduled to contribute to supporting food security and resilience efforts, alleviating the impact of the Russian-Ukrainian war on food security. This is especially vital as Russia and Ukraine are among the largest wheat exporters in the world. The ongoing war has contributed to a rise in wheat prices and a shortage in the market, the ministry said. Minister of Inter

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