Financial and Banking News
AID FLOWS
Egypt Receives $17mn British Aid for Coal Mine Project
Egypt received a £12.5mn ($16.9mn) grant from the UK last week as part of a £50mn package to help reconstruct and modernize the Meghara coal mine in the Sinai peninsula, which has been closed since the 1967 war. £37.5mn is being provided as an ECGD-backed loan arranged by Morgan Grenfell at OECD consensus rates. The project will raise annual production to 375,000 tons...
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