IDB Seeks Egypt Repayments Before New Islamic Debt Is Issued
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Egypt will need to complete projects and start repaying loans if it wants more funds from the Islamic Development Bank.
The Arab world’s most populous nation got $1.3 billion from IDB, pushing the Jeddah, Saudi Arabia-based multilateral lender beyond a self-imposed limit on how much it can lend. IDB and its units have extended $12.2 billion for projects in Egypt, including the development of an airport and an oil refinery.