pound

Egypt receives $1 billion from the World Bank amid war-related pressure on the economy

Egypt has signed a $1 billion financing agreement with the World Bank — the second of three concessional operations. The deal was concluded against the backdrop of war, a weakening pound, rising prices and an outflow of foreign capital from government bonds. Egypt signed a $1 billion financing agreement with the World Bank — the second of three concessional operations. The deal was concluded against the backdrop of war, a weakening pound, rising prices, and an outflow of foreign capital from government bonds.