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France lends Egypt €940 million to complete third metro line

By: Hend El-Behary The French Development Agency (FDA) along with the European Investment Bank have granted Egypt a soft loan of €940 million for the construction and development of phase three of the third Cairo underground line, stated the Ministry of Planning and International Cooperation (MPIC). Minister Ashraf Al-Araby of the MPIC, in the presence …

Daily News Egypt

Egypt gets $1.2 bln commodity loan from Islamic bank

By Patrick Werr / Reuters CAIRO: Egypt has received a $1.2 billion credit facility from the International Islamic Trade Finance Corporation (ITFC) to help it pay for commodity imports, Planning and International Cooperation Minister Faiza Aboul Naga said. The loan, signed on Thursday, carries a 3.75 percent interest rate and will be available immediately. It will …


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