25 April 2012
MINISTER of Planning and International Cooperation Fayza Abul-Naga signed an agreement with the World Bank for a $240 million loan. The money is set to fund the third phase of the power station project in north Giza, with a total investment of $1.59 billion.
MINISTER of Planning and International Cooperation Fayza Abul-Naga signed an agreement with the World Bank for a $240 million loan. The money is set to fund the third phase of the power station project in north Giza, with a total investment of $1.59 billion.
The bank approved two other major loans to Egypt in the first quarter of 2012. One was aimed at financing infrastructure and sanitary services, while the other was to be used to finance a gas turbine power plant. That plant will use natural gas as its main source of fuel and light diesel oil as a back-up.
© Al Ahram Weekly 2012
