AfDB approves $500m loan payment to Egypt

December 14, 2016

African Development Bank’s (AfDB) board on Tuesday approved payment of a $500 million loan to Egypt.

This is the second of three expected disbursals, Minister of International Cooperation Sahar Nasr told the media.

The loan, approved by the board in light of Egypt’s economic reforms, is subject to parliamentary approval.

Nasr did not specify when a vote might take place.

Reuters

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