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".
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.
