The Civil Aviation Ministry’s Egyptian Airports Company is in talks with a number of local banks for an EGP 2.5 bn loan for the development of Saint Catherine International Airport in Sinai and Sphinx airport in Giza, Al Mal reports, citing sources close to the talks. The company has received the terms and conditions booklets from several banks, and is expected to conclude negotiations within the coming month. The Finance Ministry would act as guarantor for the loan, which would likely carry a 10-year repayment term including a two-year grace period.

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