The Arab Monetary Fund Loans Egypt USD 616 Million

The Arab Monetary Fund has signed an agreement to provide the government of Egypt with a USD 616 million loan to support the country's financial and banking sector reforms. The loan aims to enhance the efficiency of Egypt's financial system while supporting its reform program.

The agreement, signed by the Governor of the Central Bank of Egypt, Hassan Abdullah, and Dr. Abdul Rahman bin Abdullah Al-Hamidi, General Manager and Chairman of the Fund's Board of Directors, emphasises the importance of financial support in driving economic development.

The loan program is focused on enhancing payment system infrastructures, promoting financial inclusion and sustainability, strengthening regulation frameworks, adopting technology to improve financial services, and enhancing the protection of financial consumers.