African Development Bank grants $590 mln in loans to Egypt

Noozz
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The African Development Bank (ADB) will grant Egypt two loans and a grant valued at $590 million, said Minister of International Cooperation Fayza Abu El-Naga on Saturday.

The funds will be channeled into financing a program supporting small-scale projects and reforming the financial sector in Egypt.

Agreements on this score will be signed on Monday with ADB Chairman Donald Kaberuka, who is now visiting here, she pointed out.

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