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FINANCIAL NEWS
Three Japanese loans to finance Egyptian projects
29 Feb 2016
(MENAFN) Minister of Global Cooperation revealed the terms of three Japanese loans that will finance Egyptian national projects, which will have an interest rate between 0.1 and 0.3 percent.
Moreover, the loans will be repaid over a period of 40 years with a grace period of 10 years, which will finance three public projects in Egypt.
The first is the building of a passenger terminal Airport at the cost of USD 155mn, while the second one will increase the efficiency of elect firms at USD 210mn.
In addition, the third loan will fund the construction of a power plant in Hurghada at a cost of USD 95mn, and Egypt aims to spread the funding parameters.
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