Minister Sahar Nasr
Egypt gets part of World Bank loan
Minister Sahar Nasr
Cairo - Arab Today
Egypt on Monday received the second tranche of a $3-billion World Bank loan in support of the government's economic and social agenda, International Cooperation Minister Sahar Nasr said.
In a statement on the ministry's Facebook page, Nasr said the second tranche would contribute to "encouraging private sector investment and supporting growth projects that promote employment".
Cairo received the first tranche of the loan in September 2016.
The minister said the financing was part of a loan of eight billion dollars, "six billion to the government and two billion to support the private sector" for the period 2015-2019.
Since the 2011 revolt that drove president Hosni Mubarak from power, Egypt has faced a serious foreign exchange shortage, as political instability puts off tourists and foreign investors.
In November, the International Monetary Fund approved a $12-billion loan to Egypt, conditional on its adoption of ambitious economic reforms including reducing state subsidies on energy.
Source: AFP
GMT 21:09 2017 Wednesday ,26 April
Egypt open for businessGMT 21:24 2017 Saturday ,22 April
Egypt seeks encouraging investmentsGMT 11:05 2017 Sunday ,19 March
Egypt’s minister reveals plan to increase investmentsGMT 19:10 2017 Tuesday ,07 March
Investment Ministry prioritizes solving problems facing investorsGMT 22:38 2017 Friday ,17 February
Investment promotion would be Sahar Nasr's main taskRussia tests new telemetry system during manned Soyuz MS-11 spacecraft’s launch
Moscow - TASS
The Astra-06 apparatus developed by specialists of Russian Space Systems (RSS) was used for the first time as additional telemetric equipment aboard the manned Soyuz MS-11 spacecraft launc...Read More
GMT 13:29 2018 Friday ,14 December
Turkey targets military over alleged Gulen links
GMT 12:32 2017 Tuesday ,28 February
Playboy & CNK partner to launch men's capsule collection
GMT 10:04 2019 Monday ,19 August
Live a tense and noisy atmosphere
GMT 12:00 2018 Thursday ,13 December
Liverpool, Manchester City seek neighbours' help in title chase
GMT 12:54 2012 Monday ,19 March
Emaar reshuffles board, appoints 7 New members
GMT 04:04 2017 Saturday ,08 April
US expat takes Bedouin weaving to New York
GMT 14:24 2016 Wednesday ,02 November
Joyalukkas names first 100 winners of gold promotion
GMT 11:50 2018 Thursday ,04 January
Israeli lawmakers advance bill on death penalty for 'terrorists'
GMT 10:11 2015 Thursday ,10 December
UAE Drones for Good Award attracts 1017 entries from 165 countries
GMT 08:33 2016 Wednesday ,17 August
US tracking scores of jihadists
GMT 08:29 2014 Wednesday ,08 January
Nuri al-Maliki urges residents to expel militants
GMT 08:07 2014 Thursday ,14 August
New ‘Lord of the Rings’ tour launchesGMT 12:45 2011 Monday ,15 August
The power of glowing gold
GMT 14:30 2016 Wednesday ,30 March
Palestinians' mass detention by Israelis continues
GMT 00:55 2017 Saturday ,28 January
Russia urges caution on US plan for safe zones in SyriaGMT 15:50 2013 Thursday ,07 March
Al-Basta market to support l entrepreneurs
GMT 23:16 2016 Wednesday ,10 August
Carlsberg to divest its Malawi business to Castel GroupCarlsberg to divest its Malawi business to Castel GroupGMT 15:37 2011 Sunday ,02 October
Men should be tested for colon cancer at younger age
GMT 00:26 2016 Sunday ,25 December
National Drilling Company inaugurates latest state-of-the-art jack up rig built in the UAE
GMT 17:55 2014 Saturday ,16 August
Qadsia wins Kuwait Super Cup
GMT 11:12 2016 Thursday ,13 October
China exports dive in September on weak global demandGMT 18:32 2011 Monday ,29 August
Bin Hammam slams FIFA bribery probe
GMT 15:03 2018 Friday ,07 September
Construction of launch pad for Angara rocket begins at Vostochny spaceport
GMT 02:00 2016 Monday ,02 May
Unions celebrate May 1 in Spain, calling for more jobs
GMT 19:10 2013 Tuesday ,17 December
Nanotechnology applied in production of chemical pollutant masksGMT 01:55 2013 Wednesday ,13 March
House sales highest since June 2010
GMT 18:13 2016 Monday ,22 February
JRCC to premiere the most luxurious
GMT 10:10 2016 Monday ,31 October
Egypt tourism in limbo year after Russian plane bombing
GMT 16:22 2015 Friday ,01 May
750,000 tons of wheat received in 15 days
GMT 10:19 2016 Tuesday ,08 November
Asian markets up on Clinton hopes but traders on edgeGMT 11:55 2012 Tuesday ,08 May
Woman bites off mugger\'s finger in Japan attack
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor