image description
image description
Tell A Friend

FinancialNews


  • 30-06-16

    Egypt cancels USD140mn loan to upgrade airport project

    (MENAFN) Egypt has cancelled an USD140mn loan signed with the African Development Bank (AFDB) to upgrade Sharm El-Sheikh airport.

    However, the continued drop in tourism for Sharm El-Sheikh obliged the government to reconsider carrying out the airport upgrade project.

    The government is focusing on implementing other projects with high-priority, like the development of slums and financing youth-led businesses.

    In addition, Egypt signed an USD140mn loan deal last year with the AFDB to finance a project to increase Sharm El-Sheikh Airport's capacity.

Follow us

RSS
Terms & Conditions  |  Privacy & Security  |  Contact Us  | Sitemap
© 2024 BBK  |  All Rights Reserved