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FinancialNews
17-10-18
World Bank to grant Egypt USD3b funds
(MENAFN) Egypt's Investment Ministry announced the country to be receiving USD3 billion of funds from the World Bank (WB).
The World Bank reached the financing agreement with Egypt since it is committed to help the country execute its social and economic reform.
In 2016, Egypt was able to strike a loan agreement with the World Bank with a similar size.
Egypt received the endorsement of the CEO of WB Kristalina Georgieva for its hard work in the economic and social deals secured for efforts to attract foreign investments.
The CEO also affirmed that the WB mostly invests in several sectors which include the Sinai Peninsula expansion and the infrastructure, transportation and agricultural projects.
MENAFN1710201800450000ID1097580224
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