Cairo – Mubasher: Egyptian President Abdel Fattah El-Sisi has issued the presidential decree number 180 for 2018, approving a $500 million loan agreement with the African Development Bank (AFDB).

The loan will be used to finance the third phase of Egypt’s economic governance and energy subsidies programme, the official Gazette reported on Thursday.

It is worth noting that the agreement was signed on 28 January 2018 between the Egyptian government and the Côte d'Ivoire-based lender.