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FINANCIAL NEWS
Egypt to receive USD1b from World Bank in 2015
24 Nov 2015
(MENAFN) The World Bank is about to approve a USD1 billion loan for Egypt before the end of this year, let alone it has also agreed to increase Egypt’s portfolio from USD5.5 billion to USD6 billion, based on reports.
Accordingly, a USD3 billion out of the USD6 billion are presently under negotiation for supporting the nation’s budget, with the rest being set up for investment loans based on national projects like industrial zones.
A 1.5m acres service project in Egypt’s Western Desert was given the main priority which will aim at creating an integrated community that provides service activities and villages to attract residents and alleviate poverty.
Additionally, the huge project will also include agricultural urban societies as well as agricultural industrialization zones, and it’s worth mentioning that tests have been made on the land to ensure the availability of ground water.
More News
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BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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