Minister: Egypt will receive second disbursal of IMF loan within 2-3 weeks

Cairo - Egypt will receive the second disbursal of a $12 billion International Monetary Fund loan within two to three weeks, Finance Minister Amr El-Garhy told Reuters on Thursday.

The $1.25 billion disbursal, which will complete the first $4 billion loan tranche, was initially expected to come toward the end of June.

Garhy said it was delayed due to bank procedures and the IMF executive board meetings, but that there were no obstacles to Egypt obtaining the loan.