Financial and Banking News


West Germany Provides Soft Term Loans and Grant to Egypt

West Germany has agreed to provide Egypt with DM350mn ($63mn) in soft loans and grants in 1987, according to Mr. 'Abd al'Aziz al-Zahawi, Undersecretary of the Egyptian Ministry of Economy in a statement in Bonn on 20 March. The package includes a loan worth DM235mn, to be repaid over the next 50 years, including a 10-year grace period, at an interest rate of 0.75%. Another loan of...