World Bank Approves $1.15B Loan to Support Economic Reform Programs in Egypt

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· World Bank has approved $1.15 billion development policy loan for Egypt to support the country’s economic reform programs.

· The World Bank issued a total of $3.15 billion loans from 2015 to 2017. According to a statement by the bank.

The $1.15 billion loan, which supports Egyptian economic reforms aimed at creating jobs, ensuring energy security, strengthening public finances and enhancing business competitiveness, includes financing contributions of $500 million from the World Bank Group, $500 million from the African Development Bank and $150 million from Britain.