WASHINGTON (Reuters) - the World Bank, said Sunday that should be the balance of the plans to lend to the Egypt after the International Monetary Fund confirmed that the authorities wanted to is no longer a loan with IMF-backed program.
The Minister of finance Egyptian Samir Radwan, said Saturday Egypt would not borrow from the World Bank and the IMF after the revision of its budget and the deficit target of cutting to 8.6% of the gross domestic product of 11%.
A spokesman for the World Bank said that he was not informed of the decision.
"All that we are aware that these discussions are ongoing and we have heard nothing from the Government to suggest the contrary," said a spokesman for the World Bank.
"If there is no program of the IMF, we will have to make the point", added the spokesman.
The IMF said Egypt had scrapped plans for a loan of $ 3 billion IMF agreed last month. The World Bank and other international donors have generally look at the IMF as a seal of approval to the Governments.
On 24 may, the World Bank President Robert Zoellick said that the institution of fight against poverty would be $ 4.5 billion over the next 24 months for the Egypt. Funding included $ 1 billion this year in the budgetary support and $ 1 billion next year to cover a deficit huge budget after the economy has plunged into a crisis by mass demonstrations led Hosni Mubarak's Office on 11 February.
The program of the World Bank was also to the improvement of transparency and boost employment, which were part of the requirements of demonstrators.
Radwan said Qatar had provided the Egypt with $ 500 million for budgetary support in the week, and Saudi Arabia had offered a similar amount.
(Reporting by Lesley Wroughton; editing by Anthony Boadle)
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