Cairo – Mubasher: Egypt expects to receive the first $1 billion dollar tranche of $3 billion loan from the World Bank, when the House of Representatives votes on the economic reform program, said Hafez Ghanem, World Bank’s Vice President for the Middle East and North Africa.
The first tranche will be allocated for taken-into-action past strategies for policy and institutional reforms, including the long-delayed VAT policy, Ghanem said
“The World Bank told Reuters in December that the first tranche was focused on "10 prior actions for policy and institutional reforms" already implemented. The second and third tranches are linked to additional reforms the government plans.” Reuters wrote.
In December, the World Bank approved granting Egypt a three-year loan to support the state budget in December 2015.
