Egypt has decided to move forward with procedures to obtain a $400 million World Bank facility to support the country’s inclusive health insurance system, the cabinet said in a statement on Wednesday.
The move comes after the World Bank approved increasing the value of the facility from the previous $250 million, the cabinet added.
The new facility is meant to finance the inclusion of vulnerable groups in the system, upgrade the country’s healthcare infrastructure in the governorates where the new system is implemented, and to provide structural support for the system.
The new facility comes on the back of a World Bank $847.69 million program announced in November 2019 to support the health insurance system, according to the World Bank.
The program was extended from 12 January to 31 March 2020 with a $510 million fund provided by the International Bank for Reconstruction and Development, a lending arm of the World Bank group, and $337.69 million from bodies outside the World Bank.