World Bank gives initial approval for new loan for Egyptian small projects

The World Bank gave initial approval to secure $200 million loan for Egypt’s Social Fund for Development (SFD), the secretary-general of the Egyptian fund announced Tuesday.

The loan will be provided to finance small and micro-sized projects in Egypt, Soha Soliman, SFD’s Secretary-general, said in a press conference in Cairo on Tuesday.

“We are negotiating the bank over another loan worth $200 million to finance Egyptian infrastructure projects.” Soliman added.