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Arab Fund allocates $ 100 million to Egypt
Egypt, Business, 2/9/1999
The Arab Fund for economic and social development (AFESD) allocated $ 100 million over five years to Egypt to finance private small and medium projects.
The chairman of the fund board and General Director Abdelatif Al-hamad signed on Monday a $ 50 million agreement with Egypt to finance a steel factory in Alexandria.
The agreement was signed by Egyptian Minister of planning and international cooperation Thafer Al-Nashri.
Since 1988, the Fund has granted Egypt more than $ 135 million to finance several projects in different areas.
The loan will have a 3% annual interest rate and will be paid over 19 and a half years with a four-year grace period.
Previous Stories:
Establishing the first guaranteed Egyptian investment fund
(1/2/1999)
An Egyptian investment fund of 150 million pounds
(12/31/1998)
Saudi economic examines progress on Egyptian projects
(7/13/1998)
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