Egypt Declines World Bank Loan

Posted on by

ALMASRYALYOUM– The government has declined a loan from the World Bank because it found the terms of the loan incompatible with the national interest, Egyptian Minister of Planning and International Cooperation Fayza Abul Naga said on Monday.

The minister added that the government would not accept conditions dictated by the World Bank or the International Monetary Fund, especially since the 18-day uprising that toppled former President Hosni Mubarak.

However, Abul Naga said the Saudi government has granted Egypt a loan of US$200 million to be directed to small and medium enterprises.

Last week, The Wall Street Journal said Egypt was wary of the United States’ recent offer of financial support, doubting possible ulterior motives behind it.

Read more about Egypt Declines World Bank Loan.

© 2011 ALMASRYALYOUM

Photo by Flickr user Acameronhuff

Leave a Reply

RELATED NEWS

  • Constituent Assembly Dictatorship or Democracy in Venezuela?
  • Abby Martin in Venezuela – Supermarkets to Black Markets
  • How the World Runs on Looting the Congo
  • Congo’s Resource Curse, US Backed Atrocities & Refugee Industrial Complex
  • WORLD NEWS

  • Empire Files Podcast: A Russian Anti-War Perspective on Ukraine
  • Media Roots Radio: Hollywood Gets Tough On Putin, Ukraine Scorched Earth Info War, Banning Russia
  • Media Roots Radio: RIP RT America, The End of An Era
  • Media Roots Radio: Revenge of the Kagans, DOD’s 11 Ukrainian Bio Labs, 60 Mins Targeted Individuals, Havana Reviews
  • Media Roots Radio: Fog of Cold War, Sitting Duck Op, Doomsday Clock 100 Seconds to Midnight
  • Abby Martin Confronts Nancy Pelosi Over Pentagon Spending at COP26
  • Media Roots Radio: Cure For Havana Syndrome & Info War Against Cuba w/ Alan MacLeod
  • Empire Files Podcast: Colombia On Fire w/ Student Leader From Protest Epicenter
  • Empire Files: Debunking Israel’s ‘Human Shield’ Defense in Gaza Massacre
  • Media Roots Radio: Gaza Under Attack Again, Operation Prison Wall Guardian & Alt-Media Zionism
  • Empire Files Podcast: #SaveSheikhJarrah: The Fight for East Jerusalem
  • Media Roots Radio: Mother of All Afghanistan Podcasts, Sex Cults & Cop Trials
  • Empire Update w/ Abby Martin: Arctic War, Aid to Israel Challenge, Army VR Money Pit
  • Empire Files: US Retreats From Afghanistan: Truth Behind The Empire’s Defeat
  • Empire Files: Uganda Dictatorship: Imperialism’s Pearl of Africa