Saturday 23 June 2018

Egypt, AFDB discuss $3bn cooperation plan

CAIRO, August 17, 2017

Egypt’s Ministry of Investment and International Cooperation recently met with the African Development Bank (AFDB) in Cairo to discuss the $3 billion strategy of cooperation between Egypt and the AFDB planned for 2015-2019.

The strategy includes funding  with $1.5 billion to support Egypt’s economic and social programmes, in addition to the ongoing collaboration portfolio with a value of $1.5 billion, to support infrastructure development projects, electricity, and small and medium enterprises (SMEs), reported Daily News Egypt.

The two sides discussed the $150 million funding proposed by the AFDB for a sewage treatment plant in Abu Rawash, as well as the final procedures for the signing of the $500-million third tranche of the $1.5 billion loan, of which Egypt has already received the first two tranches worth $1 billion.


Tags: Egypt | AfDB |

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