Egypt should see around USD 2 bn in foreign funding coming its way in the coming months –Nasr

Egypt should see around USD 2 bn in foreign funding coming its way in the coming months, Investment and International Cooperation Minister Sahar Nasr said on Wednesday, according to Al Masry Al Youm. By her count, Egypt should expect to receive USD 1 bn from the IMF following its second review of the economic reform program in October, and the USD 500 mn third tranche of the USD 1.5 bn African Development Bank loan in January. She added that Egypt will also see USD 500 mn coming from the G7 countries who have pledged to support the economy. Nasr had also sat down with USAID and AmCham over the long weekend to discuss disbursing USD 121.6 mn in USAID funding which was signed last week, according to a ministry statement.