Egypt seeks $400 million loan from African Development Bank
Egypt is currently conducting negotiations with the African Development Bank in an effort to acquire a $400 million loan package on favorable terms, reports Al-Hayat daily.
Chief executive of the bank, Omar Korbaj, will arrive to Cairo soon to discuss the topic with the Egyptian Prime Minister Atef Obeid. Egypt will use these loans to finance development projects in education, health, sewerage, and various other infrastructures. –(MENA Report)
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