Egypt to receive one-third of USD1.5bn Saudi loan soon, International Cooperation Minister says
Egypt expects to receive the first USD500mn tranche of the USD1.5bn loan from Saudi Arabia soon, the Minister of International Cooperation said. The loan agreement, which was approved by the parliament last month but awaiting legal opinion of the State Council, aims to develop the Sinai Peninsula. A Saudi delegation will visit Egypt next week to finalise the first tranche of the loan and will visit Sinai to see on-ground developments, the Minister added. (Bloomberg)
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