Egypt - Economic Governance and Energy Support Program

The present programme is the first phase of the economic governance and energy support program. This is the first of three series of consecutive programmatic General Budget Support (GBS) operation over the period 2015/16-2017/18), and the Bank’s second PBO in Egypt. This operation aims to promote inclusive, resilient and sustainable growth by (i) advancing fiscal consolidation through higher revenue collection, reprioritization and rationalization of expenditure and implementing public finance management reforms and internal audit mechanism; (ii) ensuring sustainable energy supply through improved governance, efficiency and private sector engagement in the energy sector; and (iii) improved business environment through investment laws, industrial license requirements as well as enhancing competition. The package of reforms under the proposed program is organised around three complementary components which are also the program Development Objectives (Dos). These components are the following: (i) advancing fiscal consolidation; (ii) sustainable energy supply; and (iii) enhancing business environment .