World bank approves second $1 billion tranche of $3 billion loan to Egypt - statement

Tuesday 20-12-2016 06:44 PM

The World Bank building. Photo from official website

By Reuters

CAIRO (Reuters) - The World Bank's board of executive directors approved a second $1 billion disbursement of a $3 billion loan to Egypt on Tuesday, a statement from the World Bank Group said.

“We are pleased to continue supporting the country’s ambitious programme of reforms with a strong focus on job creation and boosting the competitiveness of Egyptian businesses,” said Asad Alam, World Bank country director for Egypt, Yemen and Djibouti. 


(Reporting by Lin Noueihed; Writing by Asma Alsharif; Editing by Kevin Liffey)

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