Financial and Banking News


France Finances Egyptian Power Plant

France has agreed to lend Egypt FF1.228bn ($200mn) to finance the setting up of a fifth power generating unit at Abuqir power station in Alexandria, according to an agreement signed on 29 September. The new unit has a capacity of 325 megawatts and will be operative within three years, bringing the total capacity of the plant to 925 megawatts.