Egypt negotiating $300 million financing packages from AfDB

Egypt is negotiating financing packages worth $300 million from the African Development Bank (AfDB) to be signed in the first half of 2017, the bank said Sunday.

Samy Saad Zaghloul, Egypt’s Executive Director at AfDB, further said the agreements are related to waste water, energy, and slum development sectors.

Earlier, Egypt has signed on December 19th a deal to obtain a payment of $500 million from the AfDB, the second of three disbursals of a $1.5 billion loan. The two parties are expected to start negotiations over the third payment soon.

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