The Egyptian parliament has approved the World Bank’s $400-million credit line to support the Arab Republic’s comprehensive social health insurance system expected to provide a higher quality of medical services, reports say.
The Health Affairs Committee of the House of Representatives approved a loan agreement, $400 million between Egypt and the World Bank, signed in late January this year.
The World Bank’s lending arm, the International Bank for Reconstruction and Development (IBRD), will back the comprehensive social health insurance system through a subsidy scheme to cover insurance costs for people unable to afford it as well as to fund infrastructure.
The Egyptian President Abdelfattah al-Sisi, Arab Finance reports, launched in November 2019, the comprehensive insurance program.
The average contribution per treatment per person is being raised from EGP 180 ($11.5) at present to at least EGP 2,000 ($127.5) under the new system, finance media notes.
World Bank loans Egypt $400m to roll out social health insurance system
