World Bank board approves second $1 bln tranche of $3 billion loan to Egypt

The World Bank’s board of executive directors approved Tuesday a second $1 billion disbursement of a $3 billion loan to Egypt, the bank said in a statement.

“We are pleased to continue supporting the country’s ambitious programme of reforms with a strong focus on job creation and boosting the competitiveness of Egyptian businesses,” said Asad Alam, World Bank country director for Egypt, Yemen, and Djibouti.