Independent Evaluation Group2013-05-232013-05-232009978-0-8213-7958-5https://hdl.handle.net/10986/13534This country assistance evaluation reviews World Bank support to the Arab Republic of Egypt from fiscal 1999 through 2007. Egypt's economic performance over the period improved substantially. This was particularly true after 2004, following improvements in economic management, an increase in the pace of structural reforms, and correction of the exchange rate. Gross domestic product growth averaged about five percent over the period, rising to almost seven percent in 2006 and 2007. Human development indicators improved significantly. However, progress in poverty reduction has been disappointing, with a deterioration in the poverty headcount, particularly in Upper Egypt. Future Bank strategy needs to reflect Egypt's middle-income status by including a flexible lending program and an emphasis on knowledge services, including reimbursable technical assistance. The Bank can further strengthen the partnership by focusing on: (i) the persistent issue of poverty and inequality; (ii) analytic work on macroeconomic analysis and income disparities and its improved dissemination; (iii) further financial sector reforms and promoting continued reforms in systems that indirectly combat corruption; and (iv) sectoral strategies and policy and institutional reforms in infrastructure and energy.en-USCC BY 3.0 IGOAccess to Financeaccountabilityadult illiteracyadvisory servicesAgricultural sectorAgricultureair pollutionbalance of paymentsBank conditionalityBank financingBank lendingbanking lawBanking Sectorbanking sector reformsBanking systembanksbarriers to entryborrowingbudget deficitsbusiness entryCapital expenditurescapital investmentcapital investmentscapital marketscapital markets developmentcash transfercash transferscomparative advantageconsolidationcorporate tax ratescorruptioncreditscurrencydebt forgivenessdebt leveldebt managementdebt reductiondebt reliefdebt restructuringdevelopment assistanceDevelopment BankDevelopment policyDevelopment ProjectsDisbursementDisbursementsdiversified portfoliodivision of laboreconomic empowermenteconomic growtheconomic performanceeconomic policyeconomic reformeconomic reformseducation loanseffective demandemerging marketsEmploymentempowerment of womenenrollmentenrollmentsEnvironmentalenvironmental issuesenvironmental managementenvironmental protectionEuropean Central Bankexchange rateExpenditureexport performancesexportsexternal debtExtreme povertyfarmersfinancesfinancial assistancefinancial crisisfinancial flowsfinancial managementfinancial reformsfinancial resourcesFinancial SectorFinancial Sector AssessmentFinancial Sector Reformfinancial sector reformsfinancial supportfirst loanfiscal deficitfiscal deficitsfiscal disciplinefiscal policiesfiscal reformsForeign direct investmentforeign exchangeFreedom of InformationGDPGendergender equalityGender IndicatorsGender issuesGovernment debtgrant fundingGross domestic productGross domestic product growthgrowth rateGuarantee Agencyholdingholding companieshousingHuman Developmenthuman resourcesimpediments to businessImport tariffsincome growthincome levelsindebted countriesinequalitiesinequalityinflationinflationary pressureinflationary pressuresinformation technologyinstitutional capacityInstitutional Developmentinstitutional reformsinstrumentinsuranceinterest ratesInternational BankInternational DevelopmentInternational FinanceInvestment climateinvestment projectslabor forcelabor marketliving standardsloanloan amountlocal currencylow interest ratesmacroeconomic analysismacroeconomic managementmacroeconomic policiesMacroeconomic StabilityMacroeconomic stabilizationmetropolitan areasmicrofinanceMonetary Fundmonetary policymortgagemortgage financenational incomenonbank financial institutionsnonperforming loansNutritionoilPensionPension reformpension systemper capita incomepersonal incomepolitical stabilityPollutionPollution Abatementpollution controlpopulation growthportfolio performancePrivate Enterpriseprivate enterprisesprivate investmentprivatizationprivatizationsproductivitypublic bankpublic bankspublic debtpublic expenditurespublic investmentpublic servicesPublic-private partnershipsrural financesafety netSettlementshareholderssmall loansSocial DevelopmentSocial FundSocial Safety Netssocial servicesspecialized banksstate bankstock marketStructural Adjustmentsubsidiarysupervision of bankssupervisory frameworkSustainable DevelopmentSustainable Growthtaxtax administrationtax policytax ratestax reformtax reformstaxationTechnical assistancetelecommunicationsTrade policytrade reformstrade regimetranchetransactiontransaction coststransparencytransportTreasuryunemploymentunemployment ratesUnionUrban developmentwithdrawalWorld Bank10.1596/978-0-8213-7958-5