By: Mahmoud Salah and Ahmed Allam
Cairo – Mubasher: Egypt’s loan and grant portfolio reached $15 billion by 15 September, minister of international cooperation, Sahr Nasr, told Mubasher on sidelines of the Euromoney 2016 conference.
The minister added that the ministry received total loans and grants of $5 billion, including $1 billion from the World Bank (WB).
Egypt is in talks with the WB over the loan’s second tranche worth $500 million, Nasr stated, adding that it will demand a rapid transaction in the bank’s annual meetings in October.
She further noted that Egypt attracted around $15 billion in loans and grants in 12 months, including finances from a number of gulf countries such as Saudi Arabia and UAE, and others from Japan, China and South Korea.
The portfolio also included grants from the European Union (EU), the WB and the African Development Bank to support the government reform programme by $1.5 billion.
Moreover, Egypt got $500 million from the WB to support the Second Integrated Sanitation and Sewerage Infrastructure, $500 million for the social housing, $300 million to finance the small and medium enterprises (SMEs), $400 million to support the social safety net and $500 million for home connection to the natural gas network.
Translated by: Sara Ghali
