sisi approves japanese loan to fund borg el arab airport expansion
Last Updated : GMT 06:49:16
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Last Updated : GMT 06:49:16
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Sisi approves Japanese loan to fund Borg el Arab airport expansion

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Arab Today, arab today Sisi approves Japanese loan to fund Borg el Arab airport expansion

Borg El Arab International Airport
Cairo - MENA

President Abdel Fattah El Sisi issued a decree approving a Japanese loan offered to the Egyptian government to fund the expansion of Borg El Arab International Airport.

The 18.2-billion-yen loan, offered by the Japan International Cooperation Agency, will be repaid by the Egyptian government over 30 years with an annual rate of 0.1 percent and a ten-year grace period.

The loan deal was approved by the House of Representatives November 15, 2016.

The decree was published in the Gazette out Thursday

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