AfDB’s financing to Egypt mounts to $450mn

The Ministry of Cooperation said, financing from the African Development Bank (AfDB) to Egypt in 2015 has as of now mounted to US$450 million, and a scheme is under-progress to make a policy for partnership with the bank from 2015 until 2019.

Egypt’s Minister Sahar Nasr met with a delegation from the bank to talk about collaboration between the two; since partnership between the two started in 1974 an evaluated $1.9 billion have been sanctioned to over 35 ventures to promote different arenas comprising agriculture, transportation, and irrigation.

The ministry’s priorities comprise bolstering the state’s budget and sanctioning financing to promote development.

Source: The Gulf Today