CBE Governor: Loans of WB, AFDB to be used to meet financial commitmentsSource: www.export-egypt.com 12/25/2016, Location: Africa |
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 Governor of the Central Bank of Egypt (CBE) Tarek Amer said two loans Egypt recently received from the World Bank and the African Development Bank (AFDB) will be used to meet financial commitments. .
Amer said the 1.5 billion dollars that Egypt received as two separate loans from the two banks will be allocated to import fuels, liquefied natural gas, operate and maintain power plants and pay the government's debts. The two loans have nothing to do with Egypt's foreign reserves, he added. . Egypt, over the past days, received one-billion-dollar loan from the World Bank in addition to 500-million-dollar loan from the African Development Bank. |
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