Egypt in Talks With WB for USD 200 mn Loan

Monday, 22nd May 2017

The government is currently in talks with the World Bank to receive a EGP 200 mn loan aiming to finance labor-intensive projects nationwide, Invest-Gate reports.

The program aims to create more job opportunities in lower-income areas nationwide.The announcement of talks comes as part of long discussions held between Minister of Trade and Industry Tarek Qabil and a World Bank delegation during its visit to Cairo.

The program will target areas with high poverty rates, aiming to employ 45,000 young people, upgrade 700 schools, enhance the access of drinking water to poor villages, and work on paving street roads in such areas.

Meanwhile, the World Bank asserts its keenness on boosting the relationship with the Egyptian government, especially in projects which have a social impact.

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