Cairo - Mubasher: Egyptian international cooperation minister Sahar Nasr requested the African Development Bank (AfDB) to pay $500 million of the bank’s loan to finance the government’s programme no later than September.
The AfDB convoy is visiting Egypt during the period between 19 and 29 June, to discuss completing the “Economic Governance and Energy Support Program (EGESP),” with Mohamed Shaker, Egypt’s minister of electricity.
The ministry’s priorities involve establishing projects that will provide job opportunities for the youth, women and the most needy categories, added to establishing infrastructure projects, like electricity and transportation projects, said Nasr in the ministry’s statement.
In December 2015, Egypt signed an agreement with the AfDB to earmark $500 million as tier 1, within a three-year comprehensive economic development programme with a total of $1.5 billion to support Egypt’s general budget.
AfDB is currently financing projects in Egypt with a total cost of $1.76 billion in many vital fields, topped by the social sector, electricity, power, agriculture, irrigation, transportation and airports.
