{"id":555719,"date":"2021-11-24T03:50:08","date_gmt":"2021-11-24T03:50:08","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/24\/aiib-approves-usd-360-mn-loan-to-support-egypts-post-covid-economy\/"},"modified":"2021-11-24T03:50:08","modified_gmt":"2021-11-24T03:50:08","slug":"aiib-approves-usd-360-mn-loan-to-support-egypts-post-covid-economy","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/24\/aiib-approves-usd-360-mn-loan-to-support-egypts-post-covid-economy\/","title":{"rendered":"AIIB approves USD 360 mn loan to support Egypt\u2019s post-covid economy"},"content":{"rendered":"

<\/a> We\u2019re getting a USD 360 mn loan from AIIB: <\/strong>The Beijing-headquartered Asian Infrastructure Investment Bank (AIIB) has approved a USD 360 mn loan to support Egypt\u2019s post-covid economic recovery, according to a cabinet statement<\/a>.<\/p>\n

The facility matches a separate USD 360 mn <\/strong>loan<\/a><\/strong> approved by the World Bank in October<\/strong>, under a larger development policy financing framework (pdf)<\/a> set by the International Cooperation Ministry in partnership with the two lenders.<\/p>\n

Where exactly will the funding go? <\/strong>The combined USD 720 mn will go toward three key policy pillars meant to bolster the second phase of Egypt\u2019s economic reform program<\/a>: Enhancing macro sustainability, including by improving transparency at state-owned enterprises and stimulating the green transition; boosting private-sector growth; and promoting women\u2019s participation in the workforce. The three-year phase of the reform program focuses on structural reforms designed to support private sector-led growth.<\/p>\n

Background: <\/strong>The loan brings our total funding from AIIB to over USD 1 bn, according to the statement. The China-led lender has also invested funds into developing the Abu Qir metro<\/a>, alongside several European lenders, and a rural sanitation project<\/a> (also in partnership with the World Bank) connecting unserviced households to running water.<\/p>\n","protected":false},"excerpt":{"rendered":"

We\u2019re getting a USD 360 mn loan from AIIB: The Beijing-headquartered Asian Infrastructure Investment Bank (AIIB) has approved a USD 360 mn loan to support Egypt\u2019s post-covid economic recovery, according to a cabinet statement. The facility matches a separate USD 360 mn loan approved by the World Bank in October, under a larger development policy […]<\/p>\n","protected":false},"author":1,"featured_media":555720,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7206],"tags":[2399,7106,101,2415,104,72,321],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-555719","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-asian-infrastructure-investment-bank","tag-debt","tag-development-finance","tag-economic-reform-program","tag-economy","tag-enterpriseam","tag-world-bank","wpautop","entry"],"acf":{"mongo_id":"66e5ef08-beb1-4c85-92c4-ed05d7802694","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/11\/581.jpg","photo_position":"above","related_issue":[555706],"teaser":"","voice_url":""},"yoast_head":"\nAIIB approves USD 360 mn loan to support Egypt\u2019s post-covid economy - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/11\/24\/aiib-approves-usd-360-mn-loan-to-support-egypts-post-covid-economy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"AIIB approves USD 360 mn loan to support Egypt\u2019s post-covid economy\" \/>\n<meta property=\"og:description\" content=\"We\u2019re getting a USD 360 mn loan from AIIB: The Beijing-headquartered Asian Infrastructure Investment Bank (AIIB) has approved a USD 360 mn loan to support Egypt\u2019s post-covid economic recovery, according to a cabinet statement. 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The development policy financing (DPF) loan will be used\u2026","rel":"","context":"In "Development finance"","block_context":{"text":"Development finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/development-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/10\/324.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":542996,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/30\/were-getting-a-fresh-usd-368-mn-loan-from-the-amf\/","url_meta":{"origin":555719,"position":1},"title":"We\u2019re getting a fresh USD 368 mn loan from the AMF","author":"enterpriseam admin","date":"30 January 2022","format":false,"excerpt":"Egypt will receive a USD 368 mn loan from the Arab Monetary Fund (AMF) to help strengthen its financial position and meet \u201cemergency needs\u201d amid challenges caused by the ongoing pandemic, the fund announced in a statement yesterday. The loan agreement, which was signed last Wednesday, comes as part of\u2026","rel":"","context":"In "DEBT WATCH"","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/1\/359.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":542810,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/18\/egypt-takes-out-usd-10-3-bn-of-development-loans-in-2021\/","url_meta":{"origin":555719,"position":2},"title":"Egypt takes out USD 10.3 bn of development loans in 2021","author":"enterpriseam admin","date":"18 January 2022","format":false,"excerpt":"Egypt borrowed USD 10.3 bn from bilateral and multilateral lenders in 2021, according to the International Cooperation Ministry\u2019s annual report (pdf) published yesterday. Most of the funding \u2014 USD 8.7 bn \u2014 went to the public sector, while the remaining USD 1.6 bn went to private-sector initiatives.The key public sector\u2026","rel":"","context":"In "DEBT WATCH"","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/1\/208.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":590197,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/16\/aiib-to-provide-eur-250-mn-loan-for-abu-qir-metro-project\/","url_meta":{"origin":555719,"position":3},"title":"AIIB to provide EUR 250 mn loan for Abu Qir metro project","author":"enterpriseam admin","date":"16 July 2023","format":false,"excerpt":"This is around a sixth of the EUR 1.6 bn project, which will convert the Abu Qir railway into an underground metro line","rel":"","context":"In "Infrastructure"","block_context":{"text":"Infrastructure","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/infrastructure\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/7\/551.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":555151,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/03\/nbe-wants-to-borrow-usd-1-5-bn-from-intl-lenders-in-2022\/","url_meta":{"origin":555719,"position":4},"title":"NBE wants to borrow USD 1.5 bn from int\u2019l lenders in 2022","author":"enterpriseam admin","date":"3 November 2021","format":false,"excerpt":"The National Bank of Egypt (NBE) is in the market to borrow USD 1.5 bn from international institutions next year, Deputy Chairman Yehia Aboul Fotouh told Hapi Journal. This would match the amount it borrowed this year, he said. Media reports earlier this year suggested that the bank was close\u2026","rel":"","context":"In "DEBT WATCH"","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":589291,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/25\/aiib-is-a-potential-guarantor-for-our-next-green-bonds-sale\/","url_meta":{"origin":555719,"position":5},"title":"AIIB is a potential guarantor for our next green bonds sale","author":"enterpriseam admin","date":"25 June 2023","format":false,"excerpt":"This would be AIIB\u2019s first guarantee of a country\u2019s green bonds issuance","rel":"","context":"In "DEBT WATCH"","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/6\/1206.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/555719","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=555719"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/555719\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/555706"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/555720"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=555719"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=555719"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=555719"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=555719"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=555719"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}