Egypt seeks to obtain $1B concessional loan from BRICS' NDB

Updated 6/11/2024 12:26:00 PM
Egypt seeks to obtain $1B concessional loan from BRICS' NDB

Arab Finance: Egypt is seeking to obtain a concessional loan worth $1 billion from the New Development Bank (NDB), affiliated with the BRICS countries, before the end of 2024, Minister of Finance Mohamed Maait told Asharq Business.

The anticipated loan aims to finance projects that will be agreed upon with the bank, Maait noted, adding that the loan might be disbursed in USD or other currencies.

He expects the loan to be obtained before end-2024 or early 2025.

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