Posted 3/18/2024, 2:20:36 PM
World Bank Adds $6 Billion to Egypt Bailout Topping $50 Billion
- World Bank provides over $6 billion in aid to Egypt, bringing total global bailout over past weeks to more than $50 billion
- Aims to support government and boost private sector amid economic crisis
- Comes after EU pledged $8 billion and IMF expanded $8 billion program
- Follows Egypt implementing massive interest rate hike, currency devaluation
- Underscores Egypt's importance as regional power broker amid conflicts
