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Monday, 13 August 2018

Egypt seeks USD 2 bn in funding for education reform

Egypt seeks USD 2 bn in funding for education reform: The government is apparently holding talks with international development partners for USD 2 bn in new facilities to fund its drive to reform K-12 education in Egypt, according to World Bank documents seen by El Masdar. The documents appear to say that the EU, the German international development agency (GIZ), and the German development bank (KfW) have all expressed interest in participating in funding the education reforms. The World Bank had signed a USD 500 mn loan agreement with the government to fund the education reforms.

MIGA gearing up to issue USD 300-400 mn-worth of assurances for Egypt projects: Meanwhile, The World Bank Group’s (WBG) Multilateral Investment Guarantee Agency (MIGA) is preparing to issue new financial guarentees worth USD 300-400 mn for various projects in Egypt, WBG’s Alternate Executive Director Ragui El-Etreby tells Al Mal. MIGA, which had provided USD 102.6 mn in assurances for six solar power plants in Egypt back in January, had said last week that the agency intends to expand its financing for private sector projects in Egypt over the next three years.

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