International Bank allocates $300 million loan to Egypt
Egypt, Economics, 8/30/1997
The International Bank (IB) allocated a new loan to Egypt, worth 300 million US dollars, to modernize agriculture and other sectors. Part of this loan is to be dedicted to the training of technical workers on how to deal with the nature of the area of Tushky in the south of Egypt, and also for studying the soil. The IB will send experts to train Egyptians on how to deal with the crops that will be cultivated in that soil.
The IB reiterated its permanent readiness to offer economic assistance to Egypt, which is entitled to receive loans worth 600 million dollars annually.
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