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World bank approves second $1 bln tranche of $3 bln loan to Egypt - statement
December 20, 2016 / 2:19 PM / 10 months ago

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

CAIRO, Dec 20 (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 program 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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