World bank approves second $1 bln tranche of $3 bln loan to Egypt statement

The World Bank’s board of executive directors approved a second $1 billion disbursement of a $3 billion loan to Egypt on Tuesday, a statement from the World Bank Group said.

“We are pleased to continue supporting the country’s ambitious program 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.

Source: National News Agency