Five years into RISE, safety metric frozen as World Bank ratchets up fiduciary risk on Egypt’s railway loan

The World Bank has flagged “high” fiduciary risk on its USD 440 mn loan to modernize railway safety along the Alexandria-Cairo-Nag Hammadi corridor — implementation status and results report (pdf)

SOUND SMART- own guidance (pdf)

Asked directly what drove the fiduciary downgrade, the World Bank told us it’s about financial management control specifically July 2024…