Hafez Ghanem, vice president of the World Bank for the Middle East and North Africa (MENA), said that Egypt will be receiving the third portion of the World Bank loan in December. He stressed in a statement made to the press delegation accompanying the American door-knocking delegation in Washington that the third portion will be worth nearly $1bn. Ghanem stressed that Egypt is considered the largest country in terms of cooperation with the bank, which reflects on the confidence of the World Bank in it. Iraq comes after Egypt in terms of financing volume from the World Bank. He said that the bank is working to increase investments in Egypt to create jobs and expand the social insurance network to achieve social justice.

Source: Daily News Egypt May 04, 2017 12:22 UTC