tranche
Prime Minister Mostafa Madbouly confirmed on Thursday that Egypt had received $5 billion as part of the initial installment of the investment partnership agreement with the United Arab Emirates aimed at developing Ras El Hikma.
A delegation from the IMF is currently visiting Egypt to review progress on economic reforms.
Over fiscal year 2017/18, Egypt is scheduled to receive $4 billion from the IMF.
Minister of Investment Sahar Nasr discussed with World Bank (WB) Country Director for Egypt Asaad Alam providing Cairo with the third $1 billion.
Egypt expects to receive the second tranche of the International Monetary Fund (IMF) loan, worth $1.25 billion, in the second half of June.
