House approves two loan deals with EBRD, IBRD

CAIRO - 25 July 2018: The House of Representatives approved during a session Wednesday under Speaker Ali Abdel Al two presidential decrees with the European Bank for Reconstruction and Development (EBRD) and the International Bank for Reconstruction and Development (IBRD).

The house approved presidential decree no. 323 of 2018 on a $200 million loan agreement between Egypt and EBRD to improve the efficiency of the energy use of Suez Oil Company (SUCO).

The House also approved presidential decree no. 329 of 2018 on a loan agreement valued at $530 million between Egypt and IBRD to improve health services in the country.