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Print Print edition: 2017-04-01

AfDB disburses second $500 million loan tranche to Egypt

Published April 1, 2017 Updated April 1, 2017 12:00am
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The African Development Bank has disbursed a $500 million loan to Egypt, the bank's representative in Cairo told Reuters on Thursday. Leila Mokaddem said the disbursal, the second of three expected loan tranches from the bank to Egypt, came into effect on Thursday and the funds would be received early next week. Egypt has been negotiating billions of dollars in aid from various lenders to help revive its economy, battered by political and economic upheaval since a 2011 uprising.

Copyright Reuters, 2017

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