€20 Million from Germany for Aswan Power StationsSource: www.export-egypt.com 7/27/2012, Location: Africa |
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Minister of Planning and International Cooperation Fayza Abul-Naga signed a financial cooperation agreement with the German ambassador in Cairo Michael Bock for receiving six million euro easy term loan for the Aswan power station. The loan is to be paid off in 40 years, ten of which at an interest rate of 0.75 percent. The agreement includes another loan of €14 million to be paid off in ten years and enjoying five years period of grace for developing the High Dam power station.
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