Mortgage Finance Fund to receive USD 60 mn loan from World Bank in June

The Mortgage Finance Fund (MFF) will receive c.USD 60 mn from the World Bank this June, Chairman Mai Abdel Hamid told reporters yesterday on the sidelines of the Cityscape Egypt conference. The disbursal comes as part of a c.USD 500 mn loan, of which USD 250 has already been received. The MFF has asked the World Bank for an additional USD 500 mn loan, Abdel Hamid said, expecting it to be approved in July.