OPEC Fund Signs $20Mn Loan For Egypt Power Station, Other Loans Worth $63Mn
The OPEC Fund for International Development on 12 May signed nine loans worth a total of $83mn with eight developing countries. The loans all have a maturity of 20 years including a five-year grace period and carry varying rates of interest. Egypt receives $20mn to help finance the recommissioning of the Cairo North Power Plant. Work on the project began in 2002 and is expected to be...