Financial And Banking


Denmark Lends Egypt $47mn

Denmark has agreed to extend a soft loan worth $47mn to help Egypt finance the reequipment and expansion of the Suez thermal power plant, under an agreement signed on 20 February. Part of the loan, some $26mn, is interest free and has a grace period of seven years. The $90mn expansion program will be co-financed by Sweden ($28mn), the Nordic Investment Bank ($10mn) and the Egyptian Electricity Corporation ($5mn).