President Abdel Fattah El Sisi issued a decree approving a soft loan offered by South Korea to upgrade Egypt's railway signalling system.
The loan agreement was signed between Egypt and Korea Economic Development Cooperation Fund (EDCF) in March of 2016 to develop railway traffic light system from Naga Hammadi to Luxor.
The Korean fund implements aid projects in developing countries.
The soft loan will be repaid over 40 years with an annual interest rate of 0.15 percent and a ten-year grace period.
The decree was published in the Gazette out Thursday.
Sisi also issued a decree approving a framework agreement signed between Egypt and South Korea in March of 2016 to get loans from the fund.
GMT 00:41 2017 Friday ,27 October
Presidential decree approves AFD's 50-million-euroGMT 21:29 2017 Thursday ,19 October
Sisi approves Italian grant for Islamic museumGMT 20:19 2017 Thursday ,12 October
Sisi approves deal with EU to finance wind farm in SuezGMT 20:28 2017 Thursday ,28 September
Presidential decree approving deal with GermanyGMT 20:02 2017 Thursday ,20 April
Presidential decree approving French Development Agency fund to EgyptMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor