Cairo – Mubasher: The board of the African Development Bank (AfDB) approved a $500 million loan to Egypt, as part of an integrated programme for economic development to support the state budget by $1.5 billion over three years.
The programme is aimed for economic and social development that focuses on three targets, namely achieving social justice, creating more jobs and improving the business climate, and securing foreign currency, said Minister of International Cooperation Sahar Nasr.
"The bank's approval today is a strong message affirming that the Egyptian economy is moving at a steady pace towards achieving comprehensive development and confirms that the bank is confident in the government's reform process," said AfDB representative Leila Mokaddem.
