International Finance Corporation Finances Egyptian Projects With US$ 400 Mln

International Finance Corporation (IFC) is offering from US$ 300 million to US$ 400 million to projects in Egypt during the period from June 2012 to December 2013 and is also financing the basic commodities program launched in March 2012 which finance the commodities related to agriculture and energy.

Egypt’s Cabinet discussed in its 25th meeting on Wednesday the results of the meeting held between the Prime Minster Hesham Kandil and IFC Executive President.

The PM discussed the national economic and social reform plan which was earlier amended during the societal dialogue held two months ago.

Kandil affirmed that the government is moving steadily towards reform so as to achieve development and asked IFC Executive President to increase finances to developmental projects in Egypt.