The World Bank and Egypt signed a loan worth USD1bn. The funding, signed on Sunday during the Africa 2018 Summit, comes on top of USD3.15bn of World Bank budget support provided since 2015. Separately, Egypt agreed a USD300mn loan from the Asian Infrastructure Investment Bank to improve sanitation infrastructure in five governorates, according to a Cabinet statement. The loan is part of a total of USD510mn pledged to finance infrastructure projects in Egypt, with the remaining USD210mn earmarked for a project in the Benban solar power park.
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