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Sunday, 23 September 2018

New disbursals from international lenders coming

New disbursals from international lenders coming: The World Bank’s board has unanimously approved a USD 300 mn loan to Egypt as part of the planned upgrade of water and wastewater infrastructure in rural communities, Investment and International Cooperation Minister Sahar Nasr said. The program, which was launched back in 2015, has already drawn in USD 550 mn in foreign funding, according to a ministry statement.

Meanwhile, the African Development Bank (AfDB) will disburse its third and final USD 500 mn tranche of a USD 1.5 bn loan to Egypt “within days,” AfDB Vice-President Khaled Sherif said on Thursday, according to an Investment Ministry statement (pdf). Nasr had finished the paperwork for the final tranche back in January.

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