Afdb approves $500 mln loan payment to egypt intl cooperation minister

← Homepage

CAIRO Dec 13 The African Development Bank's board approved on Tuesday payment of a $500 million loan to Egypt, the second of three expected disbursals, Minister of International Cooperation Sahar Nasr told Reuters.

The loan, approved by the board in light of Egypt's economic reforms, is subject to parliamentary approval. Nasr did not specify when a vote might take place.