Egypt has received the first tranche from the World Bank in the amount of $ 1 billion, reports the Bloomberg. It is noted that the money will be spent on the improvement of living standards and the creation of new jobs. 

The Egyptian Minister of International Cooperation Sahar Nasr said that the transfer of the second tranche of the World Bank and the African Development Bank  is on the way. Overall, the World Bank will grant Egypt $ 3 billion for a three-year period to implement the reform program in the country.