The International Monetary Fund announced, in a meeting of the Executive Board, its approval to grant Egypt a loan of $3 billion for a period of 46 months.
It is worth noting that, on October 27, it was announced that Egypt had reached an expert-level agreement with the International Monetary Fund regarding the comprehensive, 4-year Egyptian national economic reform program.
The agreement allows the International Monetary Fund to provide assistance and support by offering an extended credit facility of $3 billion.