Business Services Industry
EGYPT: NO NEED FOR INTERNATIONAL FINANCING PROGRAM.
IPR Strategic Business Information Database, October, 2002
According to Al-Hayat newspaper (October 12, 2002), the Egyptian government that the World Bank and the African Development Bank do not need a new financing program from international organizations. Thus, Egypt postponed a one billion dollar financing program from the World Bank and the African Development Bank.
The two banks intended to grant this financing program to Egypt following the economic improvements achieved in the recent period. However, the World Bank and the African Development Bank agreed to assist Egypt in the case of an external economic or financial crisis.
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