{"id":542779,"date":"2022-01-17T04:03:59","date_gmt":"2022-01-17T04:03:59","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/17\/egypt-to-receive-usd-1-bn-soft-loan-from-south-korea\/"},"modified":"2022-01-17T04:03:59","modified_gmt":"2022-01-17T04:03:59","slug":"egypt-to-receive-usd-1-bn-soft-loan-from-south-korea","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/17\/egypt-to-receive-usd-1-bn-soft-loan-from-south-korea\/","title":{"rendered":"Egypt to receive USD 1 bn soft loan from South Korea"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>South Korea will provide a USD 1 bn soft loan to Egypt<\/strong>, the country\u2019s ambassador to Cairo, Hong Jin-wook (<a href=\"https:\/\/twitter.com\/AmbJWHong\">Twitter<\/a>), said at a press conference yesterday, according to <a href=\"https:\/\/bit.ly\/3A4Q4fb\">Al<\/a><a href=\"https:\/\/bit.ly\/3A4Q4fb\">Mal<\/a>. Moon did not provide details about what the money will be used for or speak on when it could be disbursed.<\/p>\n<p><strong>The presser comes ahead of South Korean President Moon Jae-in\u2019s visit to Egypt:<\/strong> Moon <a href=\"https:\/\/bit.ly\/3f4YtFS\">will be in Cairo<\/a>from Wednesday until Friday for talks with President Abdel Fattah El Sisi. Talks will be held with the aim of signing a trade agreement between the two countries during the visit, <a href=\"https:\/\/gate.ahram.org.eg\/News\/3249946.aspx\">Ahram Gate<\/a> reported Hong as saying. Cooperation on EVs, water desalination, green hydrogen and renewables are among the other top priorities for discussion, Hong reportedly said.<\/p>\n<p><strong>Also from Hong:<\/strong><\/p>\n<ul>\n<li><strong>South Korea eyes Dabaa:<\/strong> Moon will <a href=\"https:\/\/bit.ly\/3tuhWs5\">reportedly discuss<\/a> South Korean participation in the construction of the Dabaa nuclear plant with El Sisi this week. <a href=\"https:\/\/home.kepco.co.kr\/kepco\/EN\/G\/htmlView\/ENGCHP00202.do?menuCd=EN07040202\">Korea Hydro & Nuclear Power<\/a> could work on the construction of the Rosatom-built Dabaa nuclear plant after reaching an early agreement <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/5303348f-7e38-4a01-971e-4d935d99fdc6\">earlier this month<\/a> with the Russian state company. Korean media reported in October that Seoul had <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b4f1e9aa-9b95-4de4-953c-52a0427895ad\">offered to provide \u201ctechnical support\u201d<\/a> for the project, without providing details.<\/li>\n<li><strong>Hyundai wants to expand its footprint in the SCZone: <\/strong>Manufacturing giant Hyundai Rotem is <a href=\"https:\/\/bit.ly\/3I5sTEm\">reportedly in talks<\/a> with an undisclosed Egyptian company to establish a \u201cproduction plant\u201d in the Suez Canal Economic Zone, he said, without providing further information. Hyundai already has projects lined up in the SCZone having agreed <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1a3b99d8-b931-4dac-a35c-96a82d0d3b0a\">to work with the National Egyptian Railway Industries Company<\/a> to produce railcars. Hyundai Rotem could also develop a Luxor-Aswan railway line, having already agreed to upgrade the 118 km Naga Hammadi-Luxor line <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fa0781e5-12b0-479f-ad39-29caa0d05139\">last year<\/a>.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>South Korea will provide a USD 1 bn soft loan to Egypt, the country\u2019s ambassador to Cairo, Hong Jin-wook (Twitter), said at a press conference yesterday, according to AlMal. Moon did not provide details about what the money will be used for or speak on when it could be disbursed. The presser comes ahead of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7576],"tags":[101,72,418,131,415,414,416],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-542779","post","type-post","status-publish","format-standard","hentry","category-development-finance","tag-development-finance","tag-enterpriseam","tag-hyundai-rotem","tag-manufacturing","tag-moon-jae-in","tag-south-korea","tag-suez-canal-economic-zone","wpautop","entry"],"acf":{"mongo_id":"9c6904f1-6ead-4b3d-bc2d-e76f78734611","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[542773],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Egypt to receive USD 1 bn soft loan from South Korea - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/17\/egypt-to-receive-usd-1-bn-soft-loan-from-south-korea\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt to receive USD 1 bn soft loan from South Korea\" \/>\n<meta property=\"og:description\" content=\"South Korea will provide a USD 1 bn soft loan to Egypt, the country\u2019s ambassador to Cairo, Hong Jin-wook (Twitter), said at a press conference yesterday, according to AlMal. Moon did not provide details about what the money will be used for or speak on when it could be disbursed. The presser comes ahead of [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/17\/egypt-to-receive-usd-1-bn-soft-loan-from-south-korea\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-01-17T04:03:59+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/17\/egypt-to-receive-usd-1-bn-soft-loan-from-south-korea\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/17\/egypt-to-receive-usd-1-bn-soft-loan-from-south-korea\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Egypt to receive USD 1 bn soft loan from South Korea\",\"datePublished\":\"2022-01-17T04:03:59+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/17\/egypt-to-receive-usd-1-bn-soft-loan-from-south-korea\/\"},\"wordCount\":293,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"development finance\",\"EnterpriseAM\",\"Hyundai Rotem\",\"Manufacturing\",\"Moon Jae-in\",\"South Korea\",\"Suez Canal Economic Zone\"],\"articleSection\":[\"Development finance\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/17\/egypt-to-receive-usd-1-bn-soft-loan-from-south-korea\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/17\/egypt-to-receive-usd-1-bn-soft-loan-from-south-korea\/\",\"name\":\"Egypt to receive USD 1 bn soft loan from South Korea - 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If it comes to fruition, the agreement would be\u2026","rel":"","context":"In &quot;Development finance&quot;","block_context":{"text":"Development finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/development-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":543271,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/20\/this-evening-a-freetrade-agreement-with-south-korea-is-in-the-works-turkey-and-china-star-in-a-tale-of-two-interest-rate-approaches\/","url_meta":{"origin":542779,"position":1},"title":"THIS EVENING: A freetrade agreement with South Korea is in the works + Turkey and China star in a tale of two interest rate approaches","author":"enterpriseam admin","date":"20 January 2022","format":false,"excerpt":"Happy THURSDAY, friends \u2014 it\u2019s finally the end of this busy workweek. We could have a four-day week coming up next: Expect an announcement this coming Sunday or Monday that we\u2019re taking next Thursday off in observation of the 25 January holiday.The Nutty Professor returns to show us he\u2019s not\u2026","rel":"","context":"In &quot;WHAT WE\u2019RE TRACKING TONIGHT&quot;","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":543216,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/17\/this-evening-egypt-could-get-its-first-spac-within-weeks-finmin-proposes-issuing-fcy-bonds-in-japan-in-debt-diversification-strategy\/","url_meta":{"origin":542779,"position":2},"title":"THIS EVENING: Egypt could get its first SPAC within weeks + FinMin proposes issuing FCY bonds in Japan in debt diversification strategy","author":"enterpriseam admin","date":"17 January 2022","format":false,"excerpt":"Good afternoon, friends. We\u2019re only through two days of the week so far, but it already feels like it should be Thursday. As we expected yesterday, the newsflow is picking up today, so let\u2019s get to it. THE BIG STORIES TODAY #1- Make way for our first SPAC: A consortium\u2026","rel":"","context":"In &quot;WHAT WE\u2019RE TRACKING TONIGHT&quot;","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":542834,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/19\/rosatom-on-track-to-break-ground-on-dabaa-in-july\/","url_meta":{"origin":542779,"position":3},"title":"Rosatom on track to break ground on Dabaa in July","author":"enterpriseam admin","date":"19 January 2022","format":false,"excerpt":"Construction on the Dabaa nuclear power plant is on track to begin \u201cthis summer, tentatively in July,\u201d the director of Russia\u2019s state-owned Rosatom, General Alexey Likhachev, told TASS. The timeline matches what we were told by Egyptian Nuclear and Radiological Regulatory Authority (ENRRA) spokesperson Karim Al Adham last year, after\u2026","rel":"","context":"In &quot;Energy&quot;","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/1\/229.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":643008,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/08\/28\/samsung-group-head-sentenced-to-five-years-in-prison-on-bribery-charges\/","url_meta":{"origin":542779,"position":4},"title":"Samsung Group head sentenced to five years in prison on bribery charges","author":"enterpriseam admin","date":"28 August 2017","format":false,"excerpt":"Samsung Group Vice Chairman (and de facto head of the company) Lee Jae-yong was sentenced to five years in prison on Friday on bribery charges, in what Reuters calls a watershed case for South Korea. Lee had been on trial for six months on charges that he paid bribes to\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2017\/8\/289.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":553911,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/13\/gulf-banking-syndicate-disburses-usd-3-bn-loan-to-egypt-govt\/","url_meta":{"origin":542779,"position":5},"title":"Gulf banking syndicate disburses USD 3 bn loan to Egypt gov\u2019t","author":"enterpriseam admin","date":"13 December 2021","format":false,"excerpt":"The Gulf banking syndicate that agreed last month to lend USD 3 bn to the Egyptian government has disbursed the funding, Al Shorouk reports, citing unnamed sources. The three-year loan is being arranged by First Abu Dhabi Bank and Emirates NBD, and is split 50-50, with USD 1.5 bn allocated\u2026","rel":"","context":"In &quot;DEBT WATCH&quot;","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/12\/319.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/542779","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=542779"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/542779\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/542773"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=542779"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=542779"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=542779"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=542779"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=542779"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}