Egypt to conclude $1bn loan with World Bank

Housing Minister Mostafa Madbouly said the ministry is in the final stage of official negotiations with the World Bank for a loan worth one billion dollars.

The minister said 500 million dollars would be earmarked to a major sewage project for the country's villages.

The deal will be concluded by the fasting month of Ramadan, the minister said, adding that the project kicks off in July.

The minister made his comments at a meeting with a delegation of the World Bank.

"The negotiations are expected to be wrapped up by the end of this month," he said.
Source: MENA