Govt to accept US$1 bln loan from Islamic Development Bank
Al-Masry Al-Youm Thu, 28/06/2012 - 20:00
http://www.egyptindependent.com/news/govt-accept-us1-bln-loan-islamic-development-bank

Planning and International Cooperation Minister Fayza Abouelnaga said a US$1
billion loan from the International Islamic Trade Finance Corporation, which
is affiliated with the Islamic Development Bank, will be signed on Monday.

The loan would have a 3.25 percent interest rate.

In a statement to the press on Thursday, Abouelnaga said money from the loan
will be distributed to the Egyptian General Petroleum Corporation and the
General Authority for Commodities.

Prime Minister Kamal al-Ganzouri said on Wednesday during a statement to the
Shura Council that food commodities will be offered at half price during
Ramadan.

This year, the holy month of Ramadan will start on 20 July.

Edited translation from Al-Masry Al-Youm