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Egypt Receiving $1.15bn 'Urgent Financial Aid' from EU, World Bank |
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Thursday, 2 February 2012Egyptian finance minister Momtaz El-Saeed has announced the country is to receive an urgent aid package worth $1.15bn from the European Union and World Bank, Ahram has reported. The European Union is to supply $650m, while the World Bank is providing Egypt with $500m, the ministry said. The World Bank has also pledged to help Egypt with $2bn in funding over two years. An IMF delegation is expected to return to Cairo in the coming weeks to finalise an agreement on a controversial $3.2bn loan facility.
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Thursday, 2 February 2012
AME info
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