The Egyptian government recently launched a series of financial and legal feasibility studies for the construction of 40 grain silos, valued at $160 million. The Islamic Development Bank (IDB) is expected to finance 50 percent of the project with the rest to be footed by the National Investment Bank, reported Al Akhbar.
Egyptian Trade Minister Hassan Khedr is scheduled to meet with IDB Chairman on March 17, in order to finalize the project’s details. A delegation from the bank will arrive the first week of April to sign the agreement. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
