Financial and Banking News
Japan Extends $109mn in Aid to Egypt
Japan has agreed to provide Egypt with a soft loan worth ¥10,321mn ($86mn) to part-finance a thermal power station at Assiut in southern Egypt. The loan is repayable over 20 years, including a 10-year grace period and carries an annual interest rate of 4%. Japan will also provide a grant of ¥2,737mn ($23mn) towards a training center for engineers, the equipment...