AfDB Approves USD 131M Loan to Boost Egypt’s Green Development ...Egypt

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AfDB Approves USD 131M Loan to Boost Egypt’s Green Development
source : Egyptian Streets ( Egypt ) () 18
The African Development Bank (AfDB) has greenlit a significant financial injection of USD 131 million (EGP 4 billion) for Egypt. This loan is geared towards bolstering the country’s recovery from the economic impact of COVID-19 and the ongoing Ukrainian conflict, both of which have strained Egypt’s economy. The fund allocation is designated for rejuvenating the business environment, strengthening competition frameworks, boosting key productive sectors such as manufacturing and agribusiness, and facilitating the transition to a more sustainable and environmentally friendly economy. Projections suggest a positive impact on private investment, elevating it from 3.3 percent of the GDP in FY2021/

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