VOL. XXXII

NO. 24

20-MARCH-1989

EGYPT

Britain Funds Egyptian Coal Mine Project

Britain has agreed to provide Egypt with œ50mn ($86mn) in grants and loansfor redevelopment of a coal mine at Maghara in the Sinai desert, about 120 kms.southwest of al-'Arish, which has been closed since the 1973 war with Israel. A12.5mn ($21.5mn) grant and a 37.5mn ($64.5mn) government-guaranteed loan will beprovided under an agreement signed on 9 March by Britain's Morgan Grenfell andEgypt's Bank of Alexandria. The...