Financial and Banking News
AID FLOWS
West Germany Extends $150mn in Loans and Grants to Egypt
West Germany has agreed to extend DM 268mn ($150mn) in loans and grants to Egypt, according to a statement issued by the West German ambassador in Cairo on 24 May. Of this total DM235mn will be provided as a soft loan to be repaid over 50 years, including a 10-year grace period, at an annual interest rate of 0.75%. The remaining DM33mn will be provided as technical assistance grants.
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