NO. 25


Financial and Banking News

Aid Flows

Egypt and World Bank Sign Memorandum for Loan Package

Egypt and the World Bank signed a memorandum of understanding on 18 Marchthat will allow Egypt to negotiate for loans and grants worth up to $550mn. Onceobtained, the money will be used for structural readjustments in the Egyptianeconomy. The understanding was reached when Egypt agreed to implement reformsinsisted upon by the International Monetary Fund (IMF) which will reduce...