EGYPT

 

Egypt’s Finance Ministry Loans EGPC $600Mn

Egypt’s Ministry of Finance has loaned the Egyptian General Petroleum Corporation (EGPC) $600mn in July and August to cover the cost of supplying fuel for electricity generation plants, Egyptian Minister of Finance Mumtaz al-Sa'id has said. This would raise the total amount of loans extended to EGPC since 2010-11 to $5.75bn, in addition to financial guarantees from the ministry to the oil...