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FinancialNews


  • 19-01-19

    Egypt, EximBank ink USD1.2b loan deal for light rail system

    (MENAFN) Egypt was announced to have approved of an agreement with the Export-Import Bank of China (EximBank) on a USD1.2 billion loan.

    According to reports, the loan will be used for the establishment of a light rail system from an industrial city.

    The rail network, covering 68 kilometers of length, is to be set up for linking the 10th of Ramadan city to the new administrative capital.

    Egyptian Transport Minister Hisham Arafat was reported to have declared 1.8 percent of the loan to be an interest rate and matures over the next five years.

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