Egypt and Arab Monetary Fund Signed Loan Agreement

Egypt and the Arab Monetary Fund (AMF) signed on 26/12/2011 an agreement to give Cairo the second part of a loan worth 470 million dollars. The accord was inked by Egyptian Planning and International Cooperation Minister Fayza Abul-Naga and AMF chairman Jassim al-Mannai in the presence of Prime Minister Kamal el-Ganzouri. Dr. Kamal el Ganzoury expressed Egyptian government appreciation to Arab Monetary Fund role in support of the Egyptian economy since its inception and especially the quick response of the Egyptian request to provide this support during the current transitional period experienced by the country.