Egypt seeks $400 million loan from African Development Bank

Published May 15th, 2001 - 02:00 GMT

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, is toon to arrive in Cairo to discuss the topic with Egyptian Prime Minister Atef Obeid. Egypt will use these loans to finance development projects in education, health, sewerage, and various other infrastructures. –(MENA Report) 

© 2001 Mena Report (

© 2000 - 2019 Al Bawaba (

You may also like