Business

US$3 bln in IMF loans to Egypt

The International Monetary Fund (IMF) will announce a US$3 billion loan to support the Egyptian economy in a few days, a World Bank official said.

Egypt had asked for US$7 billion in loans from the World Bank and the IMF.

The United States launched an initiative to turn Egypt’s debts into investments, calling on its partners to take part in the initiative.

Translated from the Arabic Edition

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