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The World Bank

Overview:

Overview
Egypt joined the World Bank in 1945. Since then, the focus of World Bank Assistance has been to foster sustainable economic growth and reduce poverty in the country.

World Bank Country Assistance Strategy (CAS)

In June 2005, the World Bank adopted its new Country Assistance Strategy for Egyptcovering the period 2005 - 2008. Developed in close partnership with the Government of Egypt, the CAS focuses on areas where the Bank’s contribution will achieve results, such as improving the investment climate and enhancing economic, social and financial reforms.

The Government of Egypt spelled out a long term vision of development which includes the twin goals of achieving high and sustainable growth and the alleviation of poverty and income disparity. Its five-year national development plan seeks to achieve growth by making more use of the private sector as a catalyst for development, as well as changing the role of the government in managing the economy.

In response to these national goals, the current CAS is aimed at supporting three key development objectives — facilitating private sector development, enhancing the provision of public services, and promoting equity. To achieve these objectives, the strategy proposes a "results-based” financial assistance program in the range of about $2-2.8 billion dollars in support of enhancements in infrastructure, education, poverty alleviation, financial sector reforms combined with the Bank’s non-lending technical assistance, analytical and advisory services bringing world-wide experience and which focus on a variety of areas underpinning the reform program including poverty alleviation-targeted reforms.

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