From Miami Sands to Brussels Boardrooms: The High-Stakes Gambit for Ukraine's Future    Mediterranean veterinary heads select Egypt to lead regional health network    Ramy Sabry performs at opening of "The Village" in Egypt's Celia development in New Administrative Capital    Egypt demands 'immediate' Israeli withdrawal from all Lebanese territory    Cairo and Beirut seek deeper economic integration through private sector and infrastructure projects    Egypt's West Gerga industrial zone hosts Middle East's first cooling compressor plant    Foreign troop withdrawal from Libya, Sudan ceasefire urged by Egypt and Algeria    Egyptian-built dam in Tanzania is model for Nile cooperation, says Foreign Minister    Egypt says Qatari Al Mana fuel project in Sokhna does not involve land sale    Egypt partners with global firms to localise medical imaging technology    The Long Goodbye: Your Definitive Guide to the Festive Season in Egypt (Dec 19 – Jan 7)    EGX closes in red zone on 18 Dec.    Al-Sisi affirms support for Sudan's sovereignty and calls for accountability over conflict crimes    Egypt flags red lines, urges Sudan unity, civilian protection    Oil prices rise on Thursday    Egypt's Al-Sisi offers to host talks to support DRC peace process in call with Tshisekedi    Central Bank of Egypt, Medical Emergencies, Genetic and Rare Diseases Fund renew deal for 3 years    Egypt's SPNEX Satellite successfully enters orbit    Egypt unveils restored colossal statues of King Amenhotep III at Luxor mortuary temple    Egyptian Golf Federation appoints Stuart Clayton as technical director    4th Egyptian Women Summit kicks off with focus on STEM, AI    Egypt's PM reviews major healthcare expansion plan with Nile Medical City    UNESCO adds Egyptian Koshari to intangible cultural heritage list    UNESCO adds Egypt's national dish Koshary to intangible cultural heritage list    Egypt recovers two ancient artefacts from Belgium    Egypt, Saudi nuclear authorities sign MoU to boost cooperation on nuclear safety    Giza master plan targets major hotel expansion to match Grand Egyptian Museum launch    Australia returns 17 rare ancient Egyptian artefacts    China invites Egypt to join African duty-free export scheme    Egypt warns of erratic Ethiopian dam operations after sharp swings in Blue Nile flows    Egypt golf team reclaims Arab standing with silver; Omar Hisham Talaat congratulates team    Egypt launches Red Sea Open to boost tourism, international profile    Sisi expands national support fund to include diplomats who died on duty    Egypt's PM reviews efforts to remove Nile River encroachments    Egypt resolves dispute between top African sports bodies ahead of 2027 African Games    Germany among EU's priciest labour markets – official data    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Egypt seeks $ 8.5 billion from abroad: Government sources
Mohamed Sameh Published in Albawaba on 29 - 11 - 2015

Government sources said Sunday in a statement to Shorouk News that Minister of International Cooperation, Sahar Nasr is negotiating for $ 8.5 billion, in order to finance development projects.
Nasr managed to acquire $ 1.34 billion in two months and that sum is expected to increase to $ 3 billion by the end of the year, the sources explained.
The sources pointed out that this sum is double the amount of funds acquired by the ministry in the past.
The sources revealed that Egypt is expected to receive $ 1 billion from the World Bank and $ 500 million from the African Development Bank, as part of the first phase of loans provided by both banks, which amount to $ 4 billion and half a billion dollars over three years.
The minister is negotiating on two loans each worth $ 500 million from the World Bank, in addition to the Kuwait Fund for Arab Economic Development's (KFAED) announcement of allocating $ 1.5 billion over five years to Egypt, the sources added.
Also, the sources stressed that the Saudi Fund for Development (SFD), allocated $ 100 million to Egypt.

Clic here to read the story from its source.