World Bank to award Egypt with $400 million grant
The World Bank has decided to award Egypt with a $400 million grant, according to Al-Ahram daily. The grant will fund various education and infrastructure development projects. The sum will be provided in installments over the next three years.
Vice president of the World Bank’s private sector and infrastructure section in Egypt, Nimat Shafiq, stated that Egypt’s economy is strong, and should no problem overcoming its current economic slowdown.
Earlier this month, the World Bank granted Egypt a $150 million loan for the nation’s education and health sectors, and specifically towards programs, which train citizens in computer science and Internet Technology. — (MENA Report)
© 2001 Mena Report (www.menareport.com)