Financial and Banking News


Egypt Withdraws 70% of Committed Aid

Egypt has withdrawn 70% of aid committed by foreign governments and international aid agencies, according to a report released by the Egyptian Audit Bureau. Delays encountered include a lack of proper feasibility studies for the projects, insufficient local-counterpart funds, and bureaucratic entanglements. The details of aid committed and disbursed until the end of 1982 are as follows:

 Country/Fund Commitments...