Egypt approves 200 mln USD job-creation loan from World Bank

Source: Xinhua| 2020-03-26 18:02:54|Editor: mingmei
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CAIRO, March 26 (Xinhua) -- Egyptian President Abdel Fattah al-Sisi on Thursday ratified a loan of 200 million U.S. dollars from the World Bank to create more job opportunities for Egyptian youths and women.

The loan, or the Catalyzing Entrepreneurship for Job Creation Project, "will focus on expanding the credit amount and access for small and medium enterprises that have proved a major source of growth and job creation," the Egyptian government said on its website.

The World Bank project is designed to address the major obstacles to starting new businesses for young people and women in Egypt.

The World Bank currently has a portfolio of 16 projects in Egypt with a total commitment of 6.69 billion dollars.