African Development Bank Releases $500 Million Second Tranche Of $1.5 Billion Loan

Egypt has announced that it has struck a deal to receive 500 million dollars from the African Development Bank, the second tranche of a 1.5 billion dollar loan. Egypt will also receive 1 billion dollars from the World bank this week. This is part of a $ 3 billion loan agreed between the country and the lending body. The north African nation is trying to rebuild a shattered economy from years of political turmoil.
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