Cairo – Mubasher: Egypt’s minister of investment and international cooperation is currently in talks with the African Development Bank’s (AFDB) Cairo-based representative over signing the third tranche of the bank’s loan to support the country’s economic and social programme.
The tranche worth $500 million is part of a $1.5 billion loan by the AFDB, Sahar Nasr said in a statement released Wednesday, adding that the ministry was looking to use $150 million from the loan for a wastewater treatment facility in Abou Rawwash.
In March, Egypt received the second tranche worth $500 million of the three-year $1.5 billion loan.
During the meeting, Nasr highlighted the new measures taken by the Egyptian government to improve the investment environment including Egyptian President Abdel Fattah El-Sisi’s endorsement of the new investment law, adding that the law was in its final stages before the Cabinet approves its executive regulations.
