Egypt to seal $500 million AfDB loan deal on December 15: minister
Egypt will sign the final agreement on a US$500 million loan from the African Development Bank on December 15th, state-run Al-Ahram daily newspaper reported Monday, citing International Cooperation Minister Sahar Nasr.
Nasr said she expects to receive the money before this year’s end.
The loan is to finance the urgent developing projects, Nasr said in an earlier statement last month.
The money is first chunk of US$1.5 billion loan that has been negotiated with the AFDB to be sent over three years.
