VOL. XXXI

NO. 22

7-MARCH-1988

Financial and Banking News

AID FLOWS

Egypt Receives Grants from Japan and the UK

Japan is to grant Egypt $13mn, which will be used to build low-incomehousing, expand cotton storage facilities, and to reduce interest on a previouscommodity loan from 4.5% to 3.5%, according to an agreement signed on 18February. The United Kingdom also agreed last month to grant Egypt f3mn ($5.3mn)to finance a program aimed at raising the efficiency of the administrativestaff of the...