Cairo – Mubasher: Egypt is seeking to obtain two loans worth a combined $450 million from Germany and France to support the general budget.
This comes as part of the international community’s pledges to bolster the Egyptian economic reform programme, Almal News reported, citing deputy finance minister Ahmed Kojak.
The most populous Arab country is expecting to receive $250 million loan from Germany, in addition to a $200 million from France, Kojak noted.
He pointed out that the country could offer euro-denominated bond this fiscal year if the global market’s conditions are suitable.
It is worth noting that Egypt is set to settle debts valued at $6.3 billion out of total debts worth $12 billion in the second half of 2018, including $850 million in arrears for global oil firms.
