FINANCIAL BANKING NEWS
AID FLOWS
EEC Lends Egypt $27mn
The European Economic Community has agreed to lend ECU30mn ($27mn) to Egypt, in accordance with the second EEC-Egypt financial protocol. The loan will be used for the construction of a fourth 315-MW unit at the gas-fuelled Shoubra al-Khaima power station in North Cairo. The European Investment Bank (EIB) is to provide the loan for a 15-year period at a 5.35% annual interest, with a 3% subsidy from the EEC budget. Finance for the...
Please log in to read the rest of this story.
You may purchase access to entire
MEES digital archives by subscribing.
This subscription gives you access to all the content of MEES digital archives up to 1978!