Cairo – Mubasher: Egypt will receive the first tranche worth $125 million of the World Bank loan for the development of Upper Egypt within days, minister of international cooperation Sahar Nasr said on Tuesday.
The World Bank approved on 29 September a $500 million loan for the development of Upper Egypt.
Nasr said that the Upper Egypt Economic Conference was postponed until investment opportunities appeared and the introduction of required legislative amendments.
Next March, the ministry will receive a mission from the International Finance Corporation (IFC) and the World Bank, in addition to a number of economists from countries with unique investment experiences.
