Cairo - Mubasher: The Egyptian minister of investment and international cooperation said she is currently negotiating the third tranche of the $3 billion loan with the World Bank, with a value of $1 billion.

Sahar Nasr added in a statement on Wednesday that the World Bank delegation is visiting Egypt to affirm the Egyptian government's recent economic reforms, which aim to improve the investment climate, as the Egyptian economy is steadily progressing towards sustainable development.

The financing comes as part of the country’s portfolio in the World Bank which amounts to $6 billion for the government and $2 billion to support the private sector, as part of a strategic partnership between the two parties from 2015 to 2019, the minister noted.

The minister had said on Monday that Egypt has obtained the second tranche worth $1 billion of the $3 billion loan, which is dedicated to support the general budget.

The World Bank vice president for the Middle East and North Africa, Hafez Ghanem, is expecting the agreement for the third tranche to be reached before the end of this year.