World Bank board to vote Tuesday on Egypt’s $1bn second tranche: minister

The World Bank’s board will vote Tuesday on sending Egypt the second tranche worth $1 billion of a budget support loan, Egyptian international cooperation minister Sahar Nasr announced Monday.

The ministry is working on finalising other agreements from a number of international financial institutions as soon as possible to support the government economic reform programme, Nasr added in a press conference in Cairo on Monday.

World Bank has endorsed late 2015 the first tranche of its $3 billion three-year loan to to fund the Egyptian government plans to boost growth.