African Development Bank (AfDB) to Disburse $ 500 Million to Egypt for $ 1.5 Billion in Budget Support to Achieve Inclusive, Resilient and Sustainable Economic Growth in the Country .
According to a statement from the Ministry of Investment made public Friday, September 28, this new loan will be used to execute development programs with a particular focus on the social aspect.
In addition, “it should make it possible to support development programs that meet the needs of citizens and that constitute an absolute priority for the government in the context of the social dimension of Egypt’s economic reform program”.
This transaction brings the AfDB’s active portfolio in Egypt to $ 2.23 billion, with a disbursement rate of 47%.
It should be noted that the projects financed by the Bank based in Abidjan mainly concern infrastructure, energy and the social sector.