Financial and Banking News


Netherlands Forgives $7mn Egyptian aid Debt

The Netherlands on 9 June announced that development aid-related debts totalling Dfl 13.3mn ($6.6mn) owed to it by Egypt are being forgiven. The announcement was made in Cairo by the Dutch Minister of Development Aid, Mr. Piet Bukman, and follows similar actions taken by the Dutch Government with the aid-related debts of other African nations classified as "extremely poor".