Middle East Economic Survey

VOL. XLIX

No 1/2

2/9-January-2006

EGYPT

AFESD Lends $100Mn To Egyptian Power Sector

The Kuwait-based Arab Fund for Economic and Social Development (AFESD) on 20 December awarded Egypt a $100mn loan to increase the capacity of its West Cairo power plant. The loan carries an annual interest rate of 3%, a tenor of 24 years and a grace period of six years. The power plants capacity will be increased by 650mw with the addition of two natural gas-fired steam turbines. The loan...