Arab Monetary Fund loans Egypt $639m to boost public finance reforms – The National
- Date: 29-Jul-2020
- Source: The National
- Sector:Financial Markets
- Country:GCC
Arab Monetary Fund loans Egypt $639m to boost public finance reforms – The National
In June, the IMF also approved a new 12-month $5.2bn loan for Egypt to help it cope with challenges posed by the pandemic
The Cairo skyline - Egypt received a $639m credit facility from the Arab Monetary Fund. Reuters
July 29, 2020
July 29, 2020
The Arab Monetary Fund is providing Egypt with a $639 million (Dh2.3 billion) credit facility to help the Arab world's most populous country reform its public finance sector amid the Covid-19 pandemic.
The loan aims to support the implementation of economic, financial and structural reforms, the fund said in statement on Wednesday.
The AMF said financing the needs of the balance of payments and public budgets, and financing trade through its affiliate the Arab Trade Financing Programme are among the other means it is helping its members face the current economic volatility.
"The AMF is keen to provide financial and technical support to its member countries “¦ in light of the developments taking place due to the Covid-19, and the ensuing economic and financial repercussions,“ it said.
Select Sector 
Select Country 
