Cairo – Mubasher: Egypt received the first $1 billion tranche of the $3 billion loan from the World Bank (WB) on Friday, according to a statement by the international cooperation ministry.
The three-year loan aimed at backing the government's reform program and the country's economy in general.
In August, Egypt reached a staff-level agreement with the IMF for a $12 billion three year loan in order to bridge the funding gap and re-stabilize the economic situation.
