Egypt receives billion dollars of loan «World Bank»
Of the loan it received Egypt, yesterday, a first tranche of $ billion, three billion dollars provided by the «Bank» over three years to support the government's reform program.
It welcomed the Egyptian Minister of International Cooperation Sahar Nasr b «World Bank support the government's program of economic reform transformative», arguing that this process «a key part of the Bank's support for Egypt to benefit from the full potential and capabilities and raising the standard of living of all its citizens levels».
Egypt had reached a tentative agreement with the «International Monetary Fund» last August for a loan of $ 12 billion over three years. However, this requires the agreement of Egypt bilateral funding measure of six billion dollars from other countries.
Loan «World Bank» does not include the $ three billion dollars within six billions of dollars needed for a loan «Monetary Fund», as it does not enter the agreed loan of «African Development Bank» amounting to $ 1.5 billion, which Egypt has already got a slice of it $ 500 million.
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