Politics
Egypt’s Parliament Approves Two Subscriptions in IDA Capital Increases
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Egypt’s Parliament Approves Two Subscriptions in IDA Capital Increases
The House of Representatives has approved Egypt’s subscription to the 19th and 20th capital increases of the International Development Association, totaling $12 million.
- The House, chaired by Counselor Hesham Badawy, approved Presidential Decree No. 217 of 2026 for the 19th increase ($5.81 million) and Decree No. 218 of 2026 for the 20th increase ($6.19 million).
- MP Tarek Shokry, head of the Economic Committee, said IDA is the main source of concessional lending for 77 poorest countries and that Egypt has graduated from borrowing eligibility.
- The committee report noted that the Egyptian Cabinet approved the subscription in March 2024 and that the President’s approval for constitutional procedures came in January 2026.
- The committee said the agreements aim to increase IDA resources to support its developmental role in poverty alleviation and concessional financing.
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