Egypt’s Sisi Approves JPY 41.98 bn JICA Loan

Thursday, 21st December 2017
by Invest Gate

Egyptian President Abdel Fattah al-Sisi gives an address after the gunmen attack in Minya, accompanied by leaders of the Supreme Council of the Armed Forces and the Supreme Council for Police (unseen), at the Ittihadiya presidential palace in Cairo, Egypt, May 26, 2017 in this handout picture courtesy of the Egyptian Presidency. The Egyptian Presidency/Handout via REUTERS ATTENTION EDITORS – THIS IMAGE WAS PROVIDED BY A THIRD PARTY. EDITORIAL USE ONLY. TPX IMAGES OF THE DAY

The Egyptian President Abdel-Fattah El-Sisi has issued a presidential decree approving a loan from the Japan International Cooperation Agency (JICA), Invest-Gate reports.

The JPY 41.98 bn (USD 372.78 mn) loan aims to rehabilitate and enhance the electricity sector.

The repayment period will be 30 years with a 10-year grace period and an interest of 0.3% per annum.