By: Abdullah Bedeir
Cairo – Mubasher: The Egyptian Mortgage Finance Fund (MFF) will receive around $60 million financing from the World Bank next June, head of the MFF said on Sunday.
This sum will be obtained within the framework of the US-based group’s $500 million loan, Mai Abdel Hamid told reporters on the sidelines of Cityscape Egypt 2019.
The MFF has got so far $250 million under the World Bank’s loan, Abdel Hamid indicated.
The fund has requested for a further $500 million from the American bank, she added, expecting the additional financing to be approved next July.
The loan aims at underpinning real estate financing in Egypt, she highlighted.
Translated by: Mai Ezz El-Din
