Cairo – Mubasher: Egypt has signed three concessional loan agreements worth $500 million roughly with an interest rate ranging from 0.1% to 0.3%.
The first agreement allocates EGP 243.3 million to boost the capacity of electricity at an annual interest rate of 0.3% to be repaid over a period of 40 years, including a 10-year grace period.
The second $91 million agreement is directed to set up a 20MW photovoltaic power stations.
Finally, the third agreement is worth $152 million for developing Egypt’s Borg Al-Arab airport at an annual interest rate of 0.1% to be repaid over a period of 40 years, including a ten-year grace period.
These deals came as part of President El-Sisi tour to some Asian countries.
