Egypt Approves US$300mn Loan from World Bank through Presidential Decree

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Egypt has approved the contract of comprehensive finance with World Bank amounting to $ 300 million, which was signed in Washington April 12, 2014.

The decision was made through a presidential decree published in national newspapers on Thursday.

The deal aims at providing finance to small and medium-sized projects in Egypt through innovative finance mechanisms, with giving priority to women and youth as well as marginalized areas.

Source: Arab Finance

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