AFBD Chief Hails Egypt's Economic Recovery ProgramSource: www.export-egypt.com 11/10/2018, Location: Africa |
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President of the African Development Bank (AFDB) Akinwumi Adesina has praised Egypt's economic recovery program.
He noted that the program has achieved good results in view of the vigorous return of direct foreign investments to Egypt's market and its successful management of the inflation rate file. In a statement to MENA on the sidelines of Africa Investment Forum, which wrapped up its work night in Johannesburg, Adesina said that he received an invitation from Egypt's President Abdel Fattah El Sisi to attend the economic conference which is set to be held in the Red Sea resort city of Sharm el Shiekh in December, expressing his willingness to attend it. Adesina said that the conference represents a good opportunity for luring more foreign investments and backing Egypt's overall economic program, adding that president Sisi is exerting impressive concentrated efforts to mobilize the domestic resources to push forward the development. The AFDB has supported Egypt's overall economy through extending a dlrs 1.5 billion loan to it, he said adding that Cairo received the loan's third and last tranche, worth dlrs 500 million dollars in September. |
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