Cairo – Mubasher: The Egyptian cabinet has approved a draft presidential decree regarding a loan facility of EUR 225 million from Germany’s KfW Development Bank to the Investment and International Cooperation Ministry.
This deal aims at bolstering Egypt’s budget endorsed on 10 October 2017, in order to reinforce the country’s economic reform programme, according to the cabinet’s statement.
On 3 November, KfW bank announced that it has secured EUR 1.8 billion funding for a slew of projects that are currently executed in Egypt.
