Egypt recently began intensive negotiations with various Arab funds regarding a $1.5 billion loan for the current fiscal year 2001/2002, reports Al-Sharq Al-Awsat daily.
Certain unnamed Egyptian officials stated that the funds are expected to review plans for the projects and base their final decision on these analyses. These studies will include comprehensive reviews of various economic and technical aspects of the projects, as well as their potential profitability.
The anticipated loan will fund several industrial and economic projects intended to boost national growth by an average of seven percent annually.
Last year, the Egyptian economy grew by 5.9 percent, while in 1998 it rose by 5.6 percent. –(MENA Report)
© 2001 Mena Report (www.menareport.com)
