Egyptian Cabinet endorses World Bank, AMF’s loan agreements
Egyptian Cabinet has ratified Wednesday a loan agreement with the World Bank and the Arab Monetary Fund (AMF) totalling US$883 million.
On October 4th, Egypt signed US$550 million programme to improve sanitation services for more than 800,000 poor Egyptians in the Nile Delta where there is need to increase access to water, waste disposal, and health services.
The Sustainable Rural Sanitation Services Programme, which was approved by the World Bank’s Board of Directors last July, focuses on enhancing access to sanitation services for the rural poor and addressing the pollution of the Nile from untreated sewage. The Programme aims at empowering local service delivery and connecting rural poor to working sanitation systems in the Delta governorates of Daqahliya, Sharqiya, and Beheira in Lower Egypt.
Meanwhile, earlier on September 13, 2015, Egypt and the AMF signed a loan agreement worth 78.880 million Kuwaiti dinars (US$333 million). The loan aims to support a reform programme of Egypt’s financial and banking sector, and to strengthen financial aspects in order to reach a sustainable economy.
