The World Bank has approved a $3 billion loan for Egypt, to be disbursed over the next three years, International Cooperation Minister Sahar Nasr said in a statement on Thursday.
ADVERTISEMENT
World Bank approves $3 billion loan: cooperation minister
The minister said the loan would help the government secure economic growth.
A man is silhouetted against the logo of the World Bank at the main venue for the International Monetary Fund (IMF) and World Bank annual meeting in Tokyo October 10, 2012. REUTERS/Kim Kyung-Hoon
Nasr said the loan had a maturity of 35 years and carried an annual interest rate of 1.68 percent.
Egypt's economy has suffered from political turmoil since an uprising toppled autocrat Hosni Mubarak in 2011.
ADVERTISEMENT
Billions of dollars in financial support from Gulf Arab allies have helped keep the economy afloat.
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.com.gh
Recommended articles
Nana Addo assures he will prioritize the welfare of cocoa farmers
Truck driver arrested for allegedly causing train accident on Tema-Mpakadan railway line
Kia driver who caused accident involving Ghana’s new train reports himself to Police
No passenger injured in accident involving Ghana’s newly imported train – Railways Minister
NAGRAT gives govt one-week deadline to address unpaid pensions affecting 700,000 workers
Inside story of how Ghana’s new train got involved in accident on a test run
3 years after he was declared dead, German-American billionaire found in Russia
She sent naked photos to Dubai lover while I battled kidney disease - Erico speaks on divorce