Arab Today, arab today world bank to vote today on raising egypt portfolio
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Arab Today, arab today
Arab Today, arab today

World Bank to vote today on raising Egypt portfolio

Arab Today, arab today

Arab Today, arab today World Bank to vote today on raising Egypt portfolio

World bank
Cairo - MENA

The World Bank board will vote today for increasing its portfolio in Egypt from $5 billion to $6 billion, International Cooperation Minister Sahar Nasr said.

Egypt uses part of the funds to support its budget and carry out development projects, Nasr said on the sidelines of a workshop on the partnership strategy between Egypt and the African Development Bank (AfDB).

The AfDB offered a soft loan to Egypt worth $500 million under a comprehensive program for economic development and state budget support, she said.

The move is a great message of confidence in the government's economic and social program and proves that the Egyptian economy is steadily stepping towards comprehensive development, she said.

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