Africa Development Bank Says Egypt Loan Linked to IMF Agreement
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The African Development Bank will decide whether to give Egypt a $500 million loan based on the North-African country’s negotiations with the International Monetary Fund.
“The board is exploring the possibility of a budget support loan,” Sibry Tapsoba, the bank’s Egypt representative, said in a telephone interview today. “No date is confirmed yet. It can only go ahead if the country concludes its agreement with the IMF.”