December 8, 2017 / 9:49 AM / a year ago

Egypt signs for $1.15 bln World Bank loan - MENA

CAIRO, Dec 8 (Reuters) - Egypt said it signed an agreement for a $1.15 billion development policy loan from the World Bank on Friday, state news agency MENA reported.

The loan to support Egypt’s economic reforms is the last in a series of three annual loans from the World Bank totalling $3.15 billion issued from 2015 to 2017.

The World Bank approved the loan on Tuesday.

The $1.15 billion loan, which supports Egyptian economic reforms aimed at creating jobs, ensuring energy security, strengthening public finances and enhancing business competitiveness, includes financing contributions of $500 million from the World Bank Group, $500 million from the African Development Bank and $150 million from Britain.

Reporting by Omar Fahmy, writing by John Davison, editing by Larry King

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below