The International Monetary Fund (IMF) approved a $2 billion installment of the second tranche of its $12 billion loan to Egypt, Amwal Al Ghad reports.

The second tranche was pending the approval of the IMF executive board.

An IMF delegation visited Egypt this fall to conduct a periodic review of Egypt’s economic-reform program.

The government is making steady steps in adopting its reform program, the Minister of Finance, Amr El Garhy, previously said, according to Amwal Al Ghad.

Egypt received the final installment of the first tranche in July.