March 30, 2017 / 11:31 AM / 4 months ago

AfDB says it disburses second $500 mln loan tranche to Egypt

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CAIRO, March 30 (Reuters) - The African Development Bank has disbursed a $500 million loan to Egypt, the bank's representative in Cairo told Reuters on Thursday.

Leila Mokaddem said the disbursal, the second of three expected loan tranches from the bank to Egypt, came into effect on Thursday and the funds would be received early next week.

Egypt has been negotiating billions of dollars in aid from various lenders to help revive its economy, battered by political and economic upheaval since a 2011 uprising. (Reporting by Ehab Farouk; Writing by Dominic Evans; Editing by Lin Noueihed)

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