Cairo – Mubasher: Egyptian investment minister Sahar Nasr will sign a $500 million loan with the World Bank on Friday, 20 April in Washington.

The World Bank has approved to grant Egypt the aforementioned loan after making sure that the North African nation is cable of implementing education reform strategy, Egyptian education minister Tarek Shawki said in an interview to DMC TV.

The Arab world's most populous country has passed eight stages before the bank’s members voted in favour of granting the loan to Egypt, which will bolster its credibility, Shawki added.

The loan will be paid in several instalments based on the achieved goals of the education reform programme divided by the bank into more than 50 target results, the minister highlighted.

The loan will be directed to develop education curriculum, enhanc the performance of teachers, and upgrade the educational buildings in Egypt.

On 14 April 2018, the World Bank announced it would grant Egypt a $500 million loan to conduct reforms in the education sector, mainly government schools.