الاثنين، 29 فبراير 2016

in Presence of El-Sisi .. Dr. Nasr Signs 3 Agreements with JICA

Dr. Sahar Nasr: "The agreements provide soft loans worth half a billion dollars in order to improve the energy level and to provide better services for passengers".
On 29 February 2016, in presence of President Abdel Fattah el-Sisi, the Minister of International Cooperation Dr. Sahar Nasr signed three agreements worth half a billion dollars ...
with an interest rate ranging between 0.1% and 0.3% with Japan International Cooperation Agency (JICA) in the fields of energy, electricity, and civil aviation. The signing took place in presence of the Japanese Prime Minister Shinzo Abe, on the sidelines of the President el-Sisi’s visit to the Japanese capital "Tokyo".
Dr. Nasr stated that the first agreement provided a soft loan worth JPY 24.762 billion (equivalent to approximately USD 243.3 million) for boosting the energy efficiency in favor of the Ministry of Electricity, the Egyptian Electricity Holding Company (EEHC), and electricity distribution companies (in North Cairo, Alexandria, and North Delta). The Minister explained that the purpose of this agreement was to improve energy use in the electricity distribution sector by reducing electricity waste during the process of its selling and distribution.  This is in addition to purchasing energy from public and private energy production companies as well as maintaining and operating energy generators with an interest rate of 0.3% annually, a 40-year payment period, and a 10-year grace period.