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 18:00 2017 Thursday ,09 March
Sisi approves Japanese loan to fund Borg el Arab airport expansionGMT 00:23 2017 Friday ,13 January
Sisi approves 1 bn loan deal with IBRDGMT 02:03 2016 Tuesday ,27 December
Sisi, Guelleh attach great importance to enhancing economic cooperationGMT 19:34 2016 Monday ,26 December
Sisi, Guelleh attend signing 7 cooperation deals, MoUsGMT 05:17 2016 Thursday ,15 December
PM: Gov't adamant to turn Suez Canal axis into up-to-date center for modern industriesMaintained 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