Egypt Receives First Tranche of $3 Billion World Bank Loan

  • Lender transferred $1 billion, minister says in statement
  • Government to use money to finance projects for job creation

Cairo, Egypt

Photographer: Thierry Monasse/Corbis via Getty Images

Egypt received the first $1 billion tranche of a three-year, $3 billion loan from the World Bank to fund government plans to boost growth.

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