World Bank Announces $700 Mln in Financing for Egypt

The moon is seen after the day of Strawberry Moon over old houses in Cairo, Egypt, June 22, 2024. REUTERS/Amr Abdallah Dalsh
The moon is seen after the day of Strawberry Moon over old houses in Cairo, Egypt, June 22, 2024. REUTERS/Amr Abdallah Dalsh
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World Bank Announces $700 Mln in Financing for Egypt

The moon is seen after the day of Strawberry Moon over old houses in Cairo, Egypt, June 22, 2024. REUTERS/Amr Abdallah Dalsh
The moon is seen after the day of Strawberry Moon over old houses in Cairo, Egypt, June 22, 2024. REUTERS/Amr Abdallah Dalsh

The World Bank announced on Monday $700 million of budget support for Egypt, part of a 3-year, $6 billion program that the bank pledged earlier this year.

The $700 million is designed to help Egypt boost private sector participation, macroeconomic and fiscal resilience, and a greener growth trajectory, the World Bank said in a statement.



Global Corporate Social Responsibility Forum to Kick off in Riyadh on Monday

A view of the Saudi capital Riyadh. (Getty Images)
A view of the Saudi capital Riyadh. (Getty Images)
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Global Corporate Social Responsibility Forum to Kick off in Riyadh on Monday

A view of the Saudi capital Riyadh. (Getty Images)
A view of the Saudi capital Riyadh. (Getty Images)

The Saudi Ministry of Human Resources and Social Development will hold in Riyadh on Monday the inaugural Global Corporate Social Responsibility (CSR) Forum under the patronage of Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud.

The event, held under the theme "From Commitment to Impact", aligns with the Saudi Vision 2030 and the ministry's strategy to promote social responsibility by driving the Kingdom's development and building economic partnerships to foster a vibrant and collaborative society.

The forum will feature an extensive program that showcases local and international success stories, fosters communication among participants, and facilitates the exchange of insight and expertise in adopting sustainable policies globally.

Over 40 panel discussions led by more than 100 experts from 60 countries are planned during the forum. Participants include local and international ministers, private sector CEOs, experts, specialists, and decision makers.

Discussions will focus on the role social responsibility plays in aligning business strategies with the Saudi Vision 2030, global sustainability, and the role of modern technology toward reaching set goals.

The sessions will cover the use of AI to enable social responsibility and digital transformation, social responsibility in the industrial and financial sectors, corporate social responsibility initiatives that support the business environment and smart cities, and boost the global impact of corporate social responsibility.

The two-day forum will underscore Saudi Arabia's rising international status as one of the world's largest and fastest-growing economies.

According to the Global Competitiveness Report, Saudi Arabia ranks 16th globally in social responsibility, which makes it a leader in addressing global challenges.