Egypt accepts US$2 billion from World Bank
Featured
All daily papers publish headlines, features, and articles pertaining to the release of the seven Egyptian soldiers who...
Egyptian judges have been mistreated, a statement from the Judges Club quotes head of the International Association of...
In 1975, Algerian director Mohamed Lakhdar-Hamina became the first Arab to win an award at the Cannes International...
Dostour Party chief Mohamed ElBaradei has called for early presidential elections should the government of President...
Television series producers are facing numerous challenges with the approach of the holy month of Ramadan,...
Meteorologists project the beginning of a heat wave on Thursday, with temperatures expected to rise by eight to nine...
Egypt accepts US$2 billion from World Bank
On
Thu, 11/08/2011 - 17:31
The Ministry of International Cooperation has accepted US$2 billion in grants and loans from the World Bank under the Partnership for Development program.
Minister for Planning and International Cooperation Fayza Abouelnaga has signed an agreement for a grant of US$247 million for ministry employees dealing with international and regional organizations and financial institutions. The grant comes from the World Bank’s Institutional Support Fund.
The minister will also sign an agreement for a US$330 million loan from the bank, in order to modernize the 250 km railway line between Beni Suef and Assiut, in addition to another US$100 million loan for modernizing a 200,000 acre irrigation system in the New Valley region.
The World Bank will also give Egypt a loan of US$600 million to finance the North Giza power station, and another two totaling US$219.75 million to connect the Gulf of Suez wind energy station to the main electrical grid.
The minister will further negotiate with the bank for a loan of US$400 million to finance the second stage of the North Giza power station, and US$585 million to finance the South Helwan power station.
Translated from the Arabic Edition
opinion
On 6 April, security forces clashed with hundreds of protesters, most of them from the April 6 Youth Movement, during a...
Protesters block traffic in Tahrir Square, after Security forces re-opened it, and removed barbed wires, and iron...
*Entertainment*
Eeny, meeny, miny, moe,
You're the infidel of them all. Now get out!