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African Development Bank signs US$ 500 million, 2nd tranche of budget support loan for Egypt

African Development Bank signs US$ 500 million, 2nd tranche of budget support loan for Egypt


Source : African Development Bank

19-Dec-2016

The African Development Bank, on 19th December 2016, signed a loan of US$ 500 million to finance the Egypt Economic Governance and Energy Support Program Phase II. The loan, which was approved by the Bank’s Board of Executive Directors on 13th December 2016, is the second tranche of a three year, US$ 1.5 billion programmatic series, covering the fiscal years 2015/16 to 2017/18 (July-June). It builds on the first phase of the operation, a US$ 500 million loan that was approved in December 2015 and was fully disbursed in early January 2016.
Categories: Egypt, Energy & Power, Economic & Financial Governance
African Development Bank approves US$ 500 million 2nd tranche of budget support loan to Egypt
15/12/2016 - The Board of Directors of the African Development Bank (AfDB), has approved a loan of US$ 500 million to finance Egypt’s economic governance and energy support program phase II. The loan is the second tranche of a three year, US$ 1.5 billion programmatic series, covering the fiscal years 2015/16 to 2017/18 (July-June). It builds on the first phase of the operation, a US$ 500 million loan that was approved in December 2015 and was fully disbursed in early January 2016.