Egyptian Minister of Planning and International Cooperation, Ashraf Al Araby, signed a loan agreement with Kuwait Fund For Arab Economic Development (KFAED) totaling $106 million as part of financing a power station in southern Assiut.
The power station is planned to generate 650 Megawatt with a total value of almost $597 million.
According to Al Ahram portal the loan has a fixed interest rate of 2.5% and will be paid off over a 24-year term.
The power station is planned to generate 650 Megawatt with a total value of almost $597 million.
According to Al Ahram portal the loan has a fixed interest rate of 2.5% and will be paid off over a 24-year term.
Source:
Mubasher