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IMF Backs $2.5 Billion for Egypt in Loan Tranche, Climate Funds

Bloomberg · last updated

The International Monetary Fund approved $2.5 billion in financing for Egypt — about half of which will be paid out immediately — in a boost for the country seeking to emerge from its worst economic crisis in decades.

Of the total, $1.2 billion will be promptly disbursed as the latest tranche of Egypt’s current $8 billion program, the fund said Tuesday in a statement.

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