World Bank's 1st tranche of USD3bn loan awaits parliament's VAT act approval, Prime Minister says
The World Bank had agreed in December to provide Egypt with a USD3bn soft loan within three years to support the state budget. In April, the Vice President of the World Bank for the Middle East and North Africa said that the implementation of the Value Added Tax (VAT) is one of key conditions for the deployment of the first installment. (Amwal Alghad)
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