{"id":634588,"date":"2018-01-18T04:16:56","date_gmt":"2018-01-18T04:16:56","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/18\/afdb-approved-third-usd-500-mn-tranche-of-the-usd-1-5-bn-loan\/"},"modified":"2018-01-18T04:16:56","modified_gmt":"2018-01-18T04:16:56","slug":"afdb-approved-third-usd-500-mn-tranche-of-the-usd-1-5-bn-loan","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/18\/afdb-approved-third-usd-500-mn-tranche-of-the-usd-1-5-bn-loan\/","title":{"rendered":"AfDB approved third USD 500 mn tranche of the USD 1.5 bn loan"},"content":{"rendered":"

The board of directors of the African Development Bank (AfDB) has approved disbursing the third USD 500 mn tranche<\/strong> of the USD 1.5 bn loan to Egypt on Wednesday, the AfDB announced in a statement<\/a>. \u201cThe Egyptian authorities have demonstrated sustained commitment to the implementation of reforms <\/strong>supported under the program, including supporting business, investment and industrial growth, improving energy sustainability and security. The reforms underpin Egypt\u2019s economic turnaround with a clear focus on helping support the poorest via improved targeting of social spending on health, education, and job creation,\u201d the statement read.<\/p>\n

The AfDB also projects that Egypt\u2019s GDP will grow 4.8% in FY2017-18 and 5.5% in FY2018-19,<\/strong> \u201cboosted by restored investor confidence but partially diluted by high inflation,\u201d according to the bank\u2019s African Economic Outlook 2018 report. The report notes that inflation is projected to decline to 21.2% in this fiscal year and 13.7% in FY2018-19. \u201cCurrency depreciation boosted foreign direct investment, the economy is considered more competitive, and business confidence has improved. Public investment, through a series of megaprojects, boosted growth in FY2016-17. Better markets conditions have been a main factor in the return to growth, particularly benefitting exports, led by mining products, especially gold and oil (mostly crude petroleum),\u201d read the report. You can read the full heavy 201 page report (pdf)<\/a>, or skip ahead to the Egypt Economic Outlook<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The board of directors of the African Development Bank (AfDB) has approved disbursing the third USD 500 mn tranche of the USD 1.5 bn loan to Egypt on Wednesday, the AfDB announced in a statement. \u201cThe Egyptian authorities have demonstrated sustained commitment to the implementation of reforms supported under the program, including supporting business, investment […]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-634588","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"d2f594bb-3108-4837-b2c6-9f5a09d929d1","order":"0","is_powered_by":true,"section_story_id":"f3672979-5ee0-49b4-b0fb-5dbd8f5ecd5e","story_type":"1","photo_url":"","photo_position":"above","related_issue":[634571],"teaser":"","voice_url":""},"yoast_head":"\nAfDB approved third USD 500 mn tranche of the USD 1.5 bn loan - 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Disbursing the tranche was approved two weeks ago. AfDB Country Manager for Egypt, Malinne Blomberg,\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":648354,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/04\/02\/egypt-receives-second-tranche-of-the-usd-1-5-bn-afdb-loan\/","url_meta":{"origin":634588,"position":1},"title":"Egypt receives second tranche of the USD 1.5 bn AfDB loan","author":"enterpriseam admin","date":"2 April 2017","format":false,"excerpt":"Egypt has received a USD 500 mn tranche of the USD 1.5 bn African Development Bank loan (AfDB), Investment and International Cooperation Minister Sahar Nasr announced on Friday. Reuters notes that the loan will support projects including social housing, youth employment, and sanitation work, but earlier speculation suggested the funding\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":638455,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/10\/04\/afdb-to-deliver-usd-500-mn-loan-tranche-in-january\/","url_meta":{"origin":634588,"position":2},"title":"AfDB to deliver USD 500 mn loan tranche in January","author":"enterpriseam admin","date":"4 October 2017","format":false,"excerpt":"The African Development Bank (AfDB) will deliver the third and last USD 500 mn tranche, of its loan to Egypt in January, Reuters notes. AfDB has already delivered USD 1 bn of the USD 1.5 bn loan.","rel":"","context":"In "Diplomacy + Foreign Trade"","block_context":{"text":"Diplomacy + Foreign Trade","link":"https:\/\/enterpriseam.com\/egypt\/category\/diplomacy-foreign-trade\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":650660,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/29\/second-usd-500-mn-afdb-loan-tranche-arrives-in-two-weeks-amer\/","url_meta":{"origin":634588,"position":3},"title":"Second USD 500 mn AfDB loan tranche arrives in two weeks -Amer","author":"enterpriseam admin","date":"29 March 2017","format":false,"excerpt":"The second USD 500 mn tranche of the African Development Bank\u2019s USD 1.5 bn loan to Egypt will be disbursed within two weeks, pending final government procedures, Central Bank of Egypt Governor Tarek Amer tells Al Borsa.","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":625178,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/30\/egypt-receives-final-usd-500-mn-tranche-of-afdbs-usd-1-5-bn-loan\/","url_meta":{"origin":634588,"position":4},"title":"Egypt receives final USD 500 mn tranche of AfDB\u2019s USD 1.5 bn loan","author":"enterpriseam admin","date":"30 September 2018","format":false,"excerpt":"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\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":624314,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/05\/afdb-to-disburse-usd-500-mn-loan-tranche-in-coming-days\/","url_meta":{"origin":634588,"position":5},"title":"AfDB to disburse USD 500 mn loan tranche in coming days","author":"enterpriseam admin","date":"5 September 2018","format":false,"excerpt":"AfDB to disburse third USD 500 mn tranche of loan: Speaking of foreign borrowing, Egypt can expect receipt within days of a third and final USD 500 mn tranche of a USD 1.5 bn loan from the African Development Bank (AfDB), the bank\u2019s country manager for Egyopt, Malinne Blomberg, said\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/634588","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=634588"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/634588\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/634571"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=634588"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=634588"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=634588"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=634588"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=634588"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}