Egypt to receive Japanese loan for small projects worth $240 million

The Japanese government decided to specify a loan valued at $240 million for Egyptian medium-sized and small projects.

The Japanese embassy in Cairo released a press statement saying that a Japanese governmental delegation is going to visit Cairo soon, in order to discuss aspects of extending this loan, as well as financing the project of El-Fradan bridge linking the two banks of the Suez Canal. This bridge is considered the largest Egyptian project for linking Sinai and the Nile valley.

The statement said the Japanese government decided to resume offering loans to Egypt after success of the Egyptian experiment for economic reform, which was started 11 years ago by President Mubarak.

This decision also comes after the success of Mubarak's tour to China, South Korea and Japan.