Egypt secures USD3b aid as part of three-year strategy

23 Mar 2015

(MENAFN) The Egyptian government reached an agreement with AfDB over a USD2.5-3 billion in aid as a part of three-year strategy of cooperation between the two parties, Amwal Alghad reported.

AfDB ‘s current financial assistance to Egypt is worth USD500 million for 2015. AFDB plans to secure greater assistance packages for Egypt in the coming period provided that more economic improvements happen.

Since 1974, the volume of cooperation portfolio between Egypt and AfDB reached USD5.7 billion. AfDB will announce the details of its renewed strategy of cooperation with Egyptian government within next July.

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