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Egypt to Receive $1 Billion Loan from World Bank

Another $1 billion fund from the World Bank will be transferred to the Egyptian government, as part of a reform programme to improve the social and economic conditions of the country.

The World Bank's Board of Executive Directors approved on Tuesday the release of $1 billion, as part of the $3 billion loan package to support Egypt's economic reform programme, according to Ahram Online. The reform programme focuses on creating jobs and social measures to lift the most vulnerable out of poverty.

“We are pleased to continue supporting the country’s ambitious programme of reforms, with a strong focus on job creation and boosting the competitiveness of Egyptian businesses,” said Asad Alam, World Bank country director for Egypt, Yemen and Djibouti. The first $1 billion tranche of the loan was received in September.  

Egypt is also in the process of receiving a $12 billion loan from the International Monetary Fund, of which $2.75 billion were sent in November.


Todays Events
Alt Tuesday ft. $$$TAG$$$ & Tor5y @ CJC
Bars
Date: 6/18/2019
Time: 10:30pm - 3:00am
Venue: Cairo Jazz Club
Karaoke Night @ CJC 610
Bars
Date: 6/18/2019
Time: 10:00pm - 3:00am
Venue: Cairo Jazz Club 610
Gravy Train @ Room New Cairo
Concerts
Date: 6/18/2019
Time: 9:00pm - 10:30pm
Venue: The Spot
E-Motion Day @ 3elbt Alwan
Variety
Date: 6/18/2019
Time: 4:00pm - 11:00pm
Venue: 3elbt Alwan111
AləgZANdreeə Art Exhibition @ Soma Art Gallery
Exhibitions
Date: 6/18/2019
Time: 7:00pm - 10:00pm
Venue: Alexandria
Basics of Photography Workshop @ Beit El Sura
Workshop
Date: 6/18/2019
Time: 7:00pm - 10:00pm
Venue: Beit El Sura
Workers Of Cotton Company @ Mashrabia Gallery
Exhibitions
Date: 6/18/2019
Time: 11:00am - 8:00pm
Venue: Mashrabia Art Gallery
Float Reborn @ The Garden Nile Front
Clubs
Date: 6/18/2019
Time: 10:00pm - 3:00am
Venue: The Garden Nile Front