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Ahram Online: Egypt investment minister, UK ambassador sign $150 mln loan agreement

The loan is to help Egypt implement its economic reforms. The declaration was agreed upon by UK Foreign Secretary Boris Johnson & president Sisi.
12.03.17 | Interesting article at Ahram Online

British ambassador to Cairo John Casson and Egypt’s Minister for Investment and International Cooperation Sahar Nasr signed a joint declaration of intent paving the road for a UK loan guarantee of $150 million to help Egypt implement its economic programme, the UK embassy announced on Thursday in an official press release.
The joint declaration was agreed upon by UK Foreign Secretary Boris Johnson and Egyptian President Abdel-Fattah El-Sisi during a Cairo visit by Johnson in late February.

"The UK is Egypt’s top economic partner at this vital moment for the economy," Casson said in the Thursday press release. "We are supporting Egypt’s government in reforms to bring back growth… and we are supporting new investments and entrepreneurship that will help Egypt go from aid to competitiveness and growth."

According to the statement, the UK government and the Egyptian ministry will "work together to develop detailed plans to maximise the value of UK support to Egypt."