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Thursday, 9 February 2017

Egypt to receive second USD 500 mn tranche of AfDB loan expected in two weeks -AfDB

Egypt is expecting to receive the second USD 500 mn tranche of its USD 1.5 bn loan from the African Development Bank (AfDB) in two weeks at the most, according to Al Borsa. Negotiations for the third tranche should begin in the few months ahead, AfDB’s Egypt representative Laila Al Moqadem said, particularly now that the government has implemented the agreed-upon reform measures. She added that the Egyptian government has also requested a USD 150-250 mn facility for a sanitation project in Abu Rawash and will be sending the study to the bank next week.

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