Financial and Banking News

AID FLOWS

West Germany Provides soft Loan to Egypt

West Germany has agreed to provide a DM235mn ($137mn) soft loan to Egypt in 1987, according to an agreement signed on 7 August. The loan, to be repaid over 50 years with a ten-year grace period, will be used to finance power stations, textile plants, water stations, and imports of German goods for public sector companies.