Egypt received the third and final USD 500 mn tranche of a USD 1.5 bn African Development Bank loan on Thursday, according to an Investment Ministry statement (pdf). Authorities will use the funds to finance development projects and provide services to citizens in under-developed regions, Minister Sahar Nasr said. The bank is expected to dole out further financing to support Egypt’s private sector and development in the Sinai Peninsula during the coming period, the statement says, without providing further details. Nasr had met with a delegation from AfDB earlier this month to discuss its 2015-2019 cooperation strategy with Egypt.

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