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
Arab Today, arab today

Sisi approves Japanese loan to fund Borg el Arab airport expansion

Arab Today, arab today

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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