Financial and Banking New

AID FLOWS

Japan Lends Egypt $200mn 

The Japanese Government is to lend Egypt Japanese Yen 50bn ($200mn), under three agreements signed on 19 April. The loans will be used to finance land reclamations road construction, agricultural mechanization and housing construction. It is repayable in 20 years, including a grace period of 10 years, with an annual interest rate of 4%.