Robert Zolick, manager of the World Bank, said he has not been informed of any official decision from Egyptian authorities about canceling the bank's loan to Egypt that should help resolve its budget deficit. Zolick said the bank is keen to support the Egyptian government improve the future of Egypt's economy which will in turn improve the standards of living, increase job opportunities and help the poor. According to Cairo's office for the International Bank, the bank has not cancelled the loans. He said talks between the bank and Egypt's government are still going on. When the International Bank receives Egypt's decision, it will announce its situation in an official statement, added Zolick. The International Monetary Fund (IMF) cancelled its plan to give Egypt $ 3 billion in the form of a loan. Dr. Samir Radwan, Egypt's Minister of Finance, said that Egypt will not receive loans from the IMF or the International Bank after getting its budget. He said the new budget aims to decrease the deficit from 11 to 8.6 percent. He also added that Egypt received $ 500 million from Qatar as a way of supporting its budget.
