Egypt to receive $1.5 billion from WB, AFDB next December

Big 5

Both the board of governors and the board of directors of the World Bank (WB) approved to pay the third and final instalment of the $1 billion loan to Egypt in December 2017, Egypt’s Minister of Investment Sahar Nasr told Al-Masry Al-Youm on Sunday.

The government will also receive $500 million from the African Development Bank (AFDB) by the end of 2017, Nasr stated, adding that new investments worth $11 billion to be pumped into Egypt next year. Source: Mubasher