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Sunday, 26 July 2020

Egypt’s cabinet approves USD 500 mn housing facility from the World Bank

CABINET WATCH- Cabinet greenlights USD 500 mn World Bank housing facility extension: The Madbouly Cabinet ratified in its meeting last Wednesday a USD 500 mn extension to a World Bank facility as part of a program to improve access to low-income housing and bolster the state’s Social Housing Mortgage Finance Fund, according to a statement. The loan, which the bank signed off on earlier this year, will be provided by the World Bank’s lending arm, the International Bank for Reconstruction and Development (IBRD).

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