Minister: Egypt rejects conditional loans

Egypt rejects conditional loans, said International Cooperation Minister Sahar Nasr.

The economic reform plans which were announced by the government are not ink on paper in order to obtain loans but they aim to attain prosperity for the Egyptian citizen, she added in her speech before 21st Euromoney conference on Monday. 

The ministry briefs the international bodies on the economic reform plans drawn up by the Egyptian government, she further said. 

Egypt will obtain 8 billion dollars from the World Bank within the upcoming three years to finance development projects, she added. 

The ministry held partnerships with institutions and international bodies which contributed to financing economic growth and reducing budget deficit, she said.