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Since early 2012, international financial institutions have been negotiating loans for what they say will help rebuild Egypt’s ailing economy. The European Bank for Reconstruction and Development, [also called the EBRD], is awaiting approval from its shareholders to provide $1.5bn in annual loans to Egypt. This will be the first time since its establishment that the EBRD has lent to the Middle East. On February 2012, the EBRD published its technical assessment of the country, recommending the continuation of more than 20 years of privatization policies.
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