Egypt’s recent agreement with the International Monetary Fund (IMF) is expected to trigger further foreign financing worth a total of $20 billion to back the country’s economy, Asharq Business reported, Minister of Finance Mohamed Maait.

The sum includes the IMF’s $8 billion loan package and $1.2 billion financing from the IMF’s Resilience and Sustainability Trust (RST), Maait said.

The remaining amount will be secured from the World Bank, the European Union (EU), Japan, and the UK, he added.

On March 6th, the IMF sealed the final $8 billion loan deal with Egypt to boost the country’s economy.

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