NO. 40


EIB Extends Soft Loan Of ECU 220Mn For Alexandria Refinery

The European Investment Bank (EIB) has extended a soft loan of ECU 220mn(about $290mn) for the projected $1bn, 5mn ton/year refinery which Midor (Egypt)plans to build near Alexandria. The agreement was signed in Cairo on 29 June byMs. Ariane Obolensky, EIB Vice-President, and Messrs. Husain Salam and YossiMeiman, Chairman and Co-Chairman of Midor. Midor is owned 20% by the EgyptianGeneral Petroleum...