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Egypt : EGYPT gets US $300 million WORLD BANK loan

July 14, 2014

Egypt is to receive a $300 million loan from the World Bank to fund small projects and develop poor areas, announced Egyptian minister of industry and trade on Sunday.

Referring to the 2012 mass protests that toppled Islamist President Mohamed Mursi, Mounir Fakhry Abdel Nour said, This is the first loan from the World Bank after the June 30 protests.

According to Abdel Nour there exist great chances of joint cooperation between Egypt and the World Bank in financing small and medium enterprises, particularly in Upper Egypt.

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Source: TendersInfo (India)

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