World Bank approves $360mln loan for Egypt post-pandemic recovery

To further support achievement of the operation's development objectives, the Asian Infrastructure Investment Bank is considering parallel financing

  
A customer counts his U.S. dollar money in a bank in Cairo, Egypt March 10, 2016.

A customer counts his U.S. dollar money in a bank in Cairo, Egypt March 10, 2016.

REUTERS/Amr Abdallah Dalsh

DUBAI - The World Bank has approved a $360 million development policy financing (DPF) loan to support Egypt's post-pandemic recovery, the lender said on Thursday.

"To further support achievement of the operation's development objectives, the Asian Infrastructure Investment Bank is considering parallel financing for the operation of the same amount using the same package of policy reforms agreed with the World Bank," the bank added in a statement.

(Reporting by Patrick Werr; Writing by Nadine Awadalla, Editing by William Maclean) ((Nadine.Awadalla@thomsonreuters.com;))


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