President Sisi ratifies EUR 102.5 mn loan agreement with Germany: President Abdel Fattah El Sisi on Thursday ratified an agreement with Germany allowing Egypt to receive EUR 102.5 mn worth of loans, Al Shorouk reports, citing the Official Gazette. Under the terms of the agreement, Germany will lend the money to either the government or an agreed-upon third-party, provided the money is used for electricity, water and irrigation projects. The bulk of the loan will have a 30-year tenure, a 10-year grace period and an annual interest of 2%. However a EUR 2.5 mn tranche will have a 40-year tenure, a 10-year grace period and an annual interest of 0.75%.

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