Fostering gender equality supports economic resilience and boosts growth. It is also critical in achieving development outcomes, as outlined in Goal 5 of the 2030 Agenda for Sustainable Development. Legal gender equality is associated with a range of outcomes, including higher female labor force participation, and a lower wage gap. As international indexes show, appropriate laws and policies can enhance women’s economic inclusion. Beyond eliminating legal discrimination, affirmative-action policies can level the playing field for women’s economic participation. Gender inequality, on the other hand, carries high costs. A recent World Bank report estimates the losses in wealth from inequality in earnings between women and men in the Middle East and North Africa at $3.1 trillion. Legal reforms that enhance gender equality encourage more women to work. According to the Women, Business and the Law 2020 Report, female labor force participation as a percentage of the total labor force in reforming economies increased by 0.70 percentage points, while for non-reforming economies it only went up by 0.21 percentage points, a difference of 0.49 percentage points. This result signifies more women join the workforce overall in economies that are reforming towards gender equality. During the same period the labor force participation rate of women relative to men also increased by 2.05 percentage points for reforming economies, while for non-reforming economies it increased by 1.74 percentage points, a difference of 0.31 percentage points. This means that more women are likely to join the workforce relative to men in economies that are reforming towards gender equality. Legal gender equality is associated with a range of positive outcomes, including higher female labor force participation (FLFP), more women in parliament, and a lower wage gap. Advancing gender equality through regulatory and legal reform enables more women to engage in economic activities. The Project aims to support the government of Egypt (GoE) in introducing greater equality in women's participation in the economy, by supporting the government in suggesting legislative reforms in two areas of access to finance and equal pay for work, with the overall goal of increasing women's economic participation, as well as on their dissemination, to help in encouraging the full engagement of women in the economic activities.

Indicator	Cumulative
Number of entities receiving advisory services	0
Number of new laws/regulations/amendments/codes/government policies drafted, or contributed to the drafting	0
Number of reports (assessments, surveys, manuals, Phase I/strategic option reports, research, analytical, evaluations, etc.) completed	0

Performance Standard	Description and Potential Impact	Mitigation
PS 1. Assessment and Management of Environmental and Social Risks and Impacts	As part of its Due Diligence process, IFC is in the process of reviewing project risks, including environmental and social (E&S) risks, and assessing the projects consistency with IFCs Performance Standards. Based on sector and context specific risks, the project has the potential for E&S risks and/or impacts in relation to Assessment and Management of E&S Risks and Impacts. Therefore, at this stage, it is expected that E&S risk and issues contemplated by Performance Standards PS1 are present.	IFC's advice will be provided in a manner consistent with IFCs Performance Standards as defined in IFCs Policy on Environmental and Social Sustainability. Where relevant, IFC will assist the client in defining measures to identify and manage E&S risks and impacts of the business activities supported by the project.