Egypt on Monday (March 20th) received the second tranche of a $3 billion World Bank loan in support of the government's economic and social agenda, AFP reported.
In a statement, International Co-operation Minister Sahar Nasr said the second tranche would contribute to "encouraging private sector investment and supporting growth projects that promote employment".
Cairo received the first tranche of the loan in September 2016.
Nasr said the financing was part of an $8 billion loan, "$6 billion to the government and $2 billion to support the private sector" for the period 2015 to 2019.
Since the 2011 ouster of president Hosni Mubarak, Egypt has faced a serious foreign exchange shortage, as political instability puts off tourists and foreign investors.
In November, the International Monetary Fund approved a $12 billion loan to Egypt, conditional on its adoption of ambitious economic reforms including reducing state subsidies on energy.
