VOL. XXXVI
NO. 18
1-FEBRUARY-1993
Financial and Banking News
AID FLOWS
Egypt Receives $130mn World Bank Loan for Tourism
Egypt is to receive a $130mn loan from the World Bank to develop its touristindustry. The loan agreement was signed in Cairo on 26 January by Egypt'sMinister of Tourism, Mr. Fuad Sultan, and the Vice-President of the World Bank,Mr. Caio Koch-Weser. The loan is for 20 years with a five-year grace period andis priced at 0.5% over Libor. The Egyptian Government will lend the money...
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