Home Business AfDB Disburses Record $500m Loan Tranche To Egypt

AfDB Disburses Record $500m Loan Tranche To Egypt


Cairo  –   The African Development Bank has disbursed a 500 million dollars loan to Egypt, the bank’s representative in Cairo said.

Leila Mokaddem said the disbursement, the second of three expected loan tranches from the bank to Egypt, came into effect on Thursday and the funds would be received in early April.

Egypt has been negotiating billions of dollars in aid from various lenders to help revive its economy, battered by political and economic upheaval since a 2011 uprising.

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