FINANCIAL NEWS

Egypt aims to secure USD15bn amid 3 years

28 Aug 2016

(MENAFN) The Ministry of International Cooperation plans to issue USD15bn in loans to cover 50 percent of the USD30bn funding gap.

Moreover, the ministry secured almost USD3.8bn from donors out of a whole target of USD5bn for this financial year.

Additionally, the USD5bn will be directed to 20 projects in various development sectors, like electricity and sanitation.

Meanwhile, the country is also planning to link its funding gap among different channels, involving loans from the International Monetary Fund (IMF).

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