Egypt is seeking about $450 million in loans from the World Bank to finance its airport and irrigation projects, Mahmood Ayub, World Bank country director for Egypt said.

Egypt has also requested the funding of the construction of a third terminal at the Cairo airport and the extension of the Red Sea resort of Sharm El Sheikh's airport, requiring together $300 million to $350 million in loans.

Suggestions have been made for the funding of an 'integrated irrigation improvement project' that requires about $100 million, he added.
The new projects would be discussed by the Bank's newly-appointed vice-president for the Middle East and North Africa, Christiaan Poortman, during his visit to Cairo.

The World Bank and the African Development Bank have also agreed to provide $500 million in policy-based loans to Egypt.
The World Bank is currently involved in 17 development projects in Egypt, for which it has invested $800 million.