VOL. XLIII

No. 17

24-April-2000

EGYPT

AFESD Grants Egypt $52.5Mn Soft Loan For Railway Development

The Arab Fund for Economic and Social Development (AFESD) has granted Egypt a KD16mn ($52.5mn) soft loan to modernize its railways, according to a statement on 16 April by the Kuwait-based fund. The loan, with an annual interest rate of 3.0%, will be paid over a period of 22 years with a five-year grace period, and will be used to provide the number of carriages necessary to meet the rising...