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Egypt - Economic Reform And Structural Adjustment Programme - PPER
This Programme Performance Evaluation Report (PPER) reviews the Egypt’s Economic Reform and Structural Adjustment Programme (ERSAP), which covered the period 1991/92 – 1993/94. An ADB loan (Loan No.: B/EGY/SAP/92/19) was approved in September 24, 1991. The Borrower was the Government of Egypt (GOE) and the Executing Agency was the High Ministerial Reform Committee. The Programme was a multi-donor supported under the leadership of the World Bank.
A total loan amount of UA 100 million was approved by the Board for the programme. Although the first tranche was disbursed as envisaged at appraisal, the second tranche was cancelled at the request of GOE. The cancellation was motivated by the improvement in Egypt’s external account position. The cancellation of half of the loan also applied to the second tranche of the World Bank for the same reason. Some implementation delays were experienced in the programme, partly as a result of the slow processing of the loan by GOE and partly because of GOE’s willingness to deal with the World Bank rather than the ADB.