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$400 million European loan for Egypt
Egypt, Economics, 2/1/2000
The European Investment Bank decided to present an easy loan of $400 million to Egypt to be used in production projects for export.
Negotiations are currently being held to choose the Egyptian banks to present this loan to the Egyptian businessmen.
A statement issued by the European commissariat in Cairo said the interest rate of this loan will be 9% with an increase of 4% over the prevailing price in banks without governmental guarantees.
Previous Stories:
Government opens investment vistas to young investors; made-in-Egypt production
(1/17/2000)
70 million LE from the African Development Fund for Egypt
(12/21/1999)
417 million euros to support Egyptian industry
(12/13/1999)
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