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FINANCIAL NEWS
World Bank issues another USD1bn loan to Egypt
21 Mar 2017
(MENAFN) The World Bank has disbursed another USD1bn in financial assistance to Egypt out of its USD3bn loan program with the nation.
Recently, Egypt has been in talks for billions of dollars in help from many lenders to help revive an economy hit by political upheaval since a 2011 revolt.
Accordingly, the government has taken important steps in applying key policy and institutional reforms that are laying down the foundations for accelerate job creation.
Moreover, the World Bank pumped the first USD1bn tranche of the loan in 2015 and the country predicts to receive the second tranche of USD12bn in May or June this year.
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MENAFN2103201700450000ID1095331747
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