Cairo – Mubasher: The World Bank's $1.15 billion loan to Egypt will help the Arab world's most populous nation attract further private sector investment in electricity and renewable energy sectors, World Bank Chief Executive Officer (CEO) Kristalina Georgieva told local channel MBC.
The amount was the last of the World Bank's three-tranche $3 billion loan to Cairo.
The World Bank's strategy in Egypt focuses now on supporting small- and medium-sized enterprises (SMEs), Kristalina added, citing a programme for reducing risks for medium-sized glass firms.
This programme bolsters the Egyptian economic growth, creates more jobs and provides investment, Kristalina said.
On 5 December, the World Bank’s executive board approved the disbursement of the last $1.15 billion tranche of a three-year $3.15 billion loan programme to shore up Egypt's economic reform agenda.
