Egypt, AFDB Discuss Program to Support Infrastructure Projects

Egypt, AFDB Discuss Program to Support Infrastructure Projects

The Egyptian government is in discussions with the African Development Bank (AfDB) for a program worth USD 3 bn planned for 2015-2019, aiming to support Egypt’s infrastructure projects, Invest-Gate reports.

The program includes providing funding to support Egypt’s economic and social programmes with USD1.5 bn, in addition to another USD 1.5 bn to support infrastructure and electricity projects as well as small- and medium-sized enterprises (SMEs).

Minister of Investment and International Cooperation Sahar Nasr also discussed with AfDB officials the final procedures for reimbursing the third tranche of a USD 1.5 bn loan. The reimbursement is valued at USD 500 mn, according to ministry data.

Menna A. Farouk 368 Posts

Menna A. Farouk is a Cairo-based reporter. She has contributed to several international news organizations, including Deutsche Welle, Al-Monitor and Global Voices.


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