VOL. XLV

No 31

5-August-2002

EGYPT

IDBLends Egypt $270Mn

The Islamic Development Bank (IDB) on 14 July agreed to lendEgypta total of $270mn. A portion of $100mn with soft terms and a fixed interestpayment of 0.2% of the sum will be used to fund crude oil imports. A further$100mn with an interest payment of between 0.2 and 0.5% of the sum will be usedto buys wheat from other member states of the IDB. The purchase of new grainsilos will cost $40mn, repayment of which will not begin for three years...