Sisi approves Japanese loan to fund Borg el Arab airport expansion
Borg El Arab International Airport
Cairo - MENA
President Abdel Fattah El Sisi issued a decree approving a Japanese loan offered to the Egyptian government to fund the expansion of Borg El Arab International Airport.
The 18.2-billion-yen loan, offered by the Japan International Cooperation Agency, will be repaid by the Egyptian government over 30 years with an annual rate of 0.1 percent and a ten-year grace period.
The loan deal was approved by the House of Representatives November 15, 2016.
The decree was published in the Gazette out Thursday
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