Cairo – Mubasher: The Egyptian cabinet approved several decrees on Thursday, including obtaining a $500 million loan from the International Bank for Reconstruction and Development (IBRD).
The government approved a presidential decree concerning an additional funding of $500 million from IBRD to support social security networks in the most populous Arab nation, according to a statement on Thursday.
The approvals also included allocating 16,034.98 feddans of land to the New Urban Communities Authority (NUCA) to build a new city in Bani Mazar, situated in the Upper Egyptian Minya governorate.
In addition, the cabinet approved contracting with a foreign consultation firm to provide advisory on the establishment of the second phase of El Dabaa nuclear power plant scheduled for completion in December 2019.
The Egyptian government also approved a request submitted by Siemens Gamesa to build a wind power generation plant at a capacity of 500 megawatts (MW) through the build-own-operate (BOO) model.
