In Egypt North African nation to receive $3 billion loan from world: finance minister

Egypt will receive a $3 billion loan from the World Bank in instalments over the next three years to support the state's budget

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Egypt's Finance Minister Hany Kadry Dimian talks to the media during the Euromoney Conference in Cairo, Egypt September 7, 2015. REUTERS/Mohamed Abd El Ghany play Egypt's Finance Minister Hany Kadry Dimian talks to the media during the Euromoney Conference in Cairo, Egypt September 7, 2015. REUTERS/Mohamed Abd El Ghany
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 Egypt will receive a $3 billion loan from the World Bank in instalments over the next three years to support the state's budget, the finance minister said on the sidelines of an economic conference on Wednesday.

Egyptian Investment Minister Ashraf Salman talks during signing of an agreement between the Ministry of Investment and the new Suez Canal during the final session of the Egypt Economic Development Conference (EEDC) in Sharm el-Sheikh, in the South Sinai governorate, south of Cairo, March 15, 2015. REUTERS/Amr Abdallah Dalsh play Egyptian Investment Minister Ashraf Salman talks during signing of an agreement between the Ministry of Investment and the new Suez Canal during the final session of the Egypt Economic Development Conference (EEDC) in Sharm el-Sheikh, in the South Sinai governorate, south of Cairo, March 15, 2015. REUTERS/Amr Abdallah Dalsh

 

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"The government is aware of the economic conditions which we're passing through, and there is a deficit in the budget and we have to handle it gradually," the prime minister said in separate remarks at the same conference.

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