CBE to receive billion dollars from RSF in January

Informed sources said that the loan decided by the Resilience and Sustainability Facility (RSF), of the International Monetary Fund recently agreed upon delivering one billion dollars for Egypt, within the financing program signed at the staff level.

The funds will be transferred to the Central Bank of Egypt separately according to separate procedures other than the loan of the three billion dollars from the fund.

The sources said that the three billion dollar loan will be made available over four years, noting that the first tranche that will be transferred to Egypt amounts to three-quarters of a billion dollars.

The head of the Parliament’s Plan and Budget Committee Fakhry al-Fiqi, and a former expert at the IMF, said that the billion-dollar loan will be repaid over 20 years, and Egypt will be granted a grace period of 10 and a quarter year.