Egypt Health Ministry withdraws Loan Talks with World Bank

By Yomna Yasser On May 11, 2015

Egypt’s Health Ministry has decided not to obtain a loan from the World Bank Group for its plans to upgrade hospitals, an official from the Ministry of International Cooperation announced Monday.

Hend Abdel-Fattah, Head of Minister’s Office Sector at the Egyptian Ministry of International Cooperation, said the health ministry had declined plans to secure a loan from the World Bank Group, but without mentioning any further reason behind the decision.

Earlier this month, Mohamed Mait – Assistant Minister for the financial Affairs at Egypt’s Health Ministry – said his ministry was seeking to obtain a US$200 million loan from the World Bank. He also referred to several meetings been held with officials from the bank to agree on the final form of the loan and the targeted projects.

Currently, the World Bank Group’s portfolio in Egypt includes 27 projects for a total commitment of US$5.8 billion.