10.04.2013 - Egypt: Shura Council Economic Committee set to accept $50mln from Islamic Development Bank
The Economic Committee at the Shura Council is set to accept $50m from the Islamic Development Bank (IDB). Ghadi Wali, secretary general of Egypt’s Social Fund for Development (SFD), said that the SFD will employ a number of international experts in order to review the potential outcome and effects of the IDB loan, at a time when the price of Egypt’s currency is decreasing. She said that the SFD’s goal would be to distinguish between real losses and those suffered as a result of Egypt’s depreciating currency, accrued because of past, current and pending loans accepted by the country’s government. She added that “an American and Swiss expert will be brought in to present the findings of the Committee’s study to the Finance Ministry”...............................................Full Article: Source
Print