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Egypt, Afdb Review Measures for Inking 3rd Tranche Loan Deal
Source: 8/16/2017

Egypt and the African Development Bank (AfDB) reviewed measures for inking an agreement on disbursing the third tranche of a 1.5 billion dollar loan for supporting the Egyptian government's social and economic program.

Investment and International Cooperation Minister Sahar Nasr had talks with AfDB Leila Mokaddem on the 2015-2019 cooperation strategy between the two sides, according to a statement issued by the ministry.

The third tranche is worth $500 million.

In December 2016, Nasr signed a deal for getting the second tranche of the three-year loan.

The loan - paid in three tranches - is intended to support government programs that aim to achieve social and economic development by creating new jobs and improving business environment.

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