The World Bank Group announced extending its Country Partnership Framework (CPF) 2015–2019 with Egypt for two years, with Cairos economic reforms showing early signs of success. In a statement reported by MENA, the group said that the decision was made following a formal review of the results of the current Framework by the group’s Board of Executive Directors, in a process known as a Performance and Learning Review. The extension aims to maintain the momentum on reforms, to ensure continued progress toward inclusive growth, job creation and more and better opportunities for all citizens. The Egypt 2015-2019 CPF also focuses on improving opportunities for private sector led job creation, social inclusion and improving governance. The three focus areas remain highly relevant to the country’s long-term development strategy. The government’s reform efforts which are supported under the CPF, have helped to stabilize the economy; growth has rebounded, the external and fiscal deficits have narrowed, inflation has declined, and foreign reserves have increased. Regional Director of the World Bank office in Egypt, Yemen and Djibouti Marina Weiss said that the expansion of the CPF with Egypt will allow the group to continue to support the ongoing reform measures carried out by the Egyptian government with the view to improving the living standards of Egyptians. Almost 77% of the original CPF objectives have already been achieved or are on track to be achieved by the end of the original framework period, according to the groups statement. "Stronger macroeconomic management has made the business environment more conducive for the private sector, and key fiscal reforms have allowed the government to improve its debt sustainability outlook and redirect scarce budget resources to new social programs targeted at poor and vulnerable Egyptians. Important legislation to support the business-enabling environment has been enacted, and automated government processes have reduced the bureaucratic hurdles to doing business," the statement added. "As such, Egypt’s ease of doing business ranking climbed from 131st out of 189 economies in 2016 to 120th out of 190 economies in 2018."