AfDB ap­proves $500m loan pay­ment to Egypt

Kuwait Times - - BUSINESS -

The African De­vel­op­ment Bank’s board ap­proved yes­ter­day pay­ment of a $500 mil­lion loan to Egypt, the sec­ond of three ex­pected dis­bur­sals, Min­is­ter of In­ter­na­tional Co­op­er­a­tion Sa­har Nasr told Reuters. The loan, ap­proved by the board in light of Egypt’s eco­nomic re­forms, is sub­ject to par­lia­men­tary ap­proval. Nasr did not spec­ify when a vote might take place.

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