Financial and Banking News


US Extends Aid Worth $140mn to Egypt 

The US Agency for International Development (USAID) and Egypt signed three aid agreements on 31 December worth $140.2mn. These are: the $100mn second tranche of a three-part grant of $500mn to support Egypt's balance of payments; a $20.2mn grant to finance construction of a 315 MW generating unit for the fourth and final phase of al-Shubra thermal power plant; and a $20mn grant to finance an irrigation...