Mexico's inflation exceeds expectations in 1st half of April    Egypt's gold prices slightly down on Wednesday    Tesla to incur $350m in layoff expenses in Q2    GAFI empowers entrepreneurs, startups in collaboration with African Development Bank    Egyptian exporters advocate for two-year tax exemption    Egyptian Prime Minister follows up on efforts to increase strategic reserves of essential commodities    Italy hits Amazon with a €10m fine over anti-competitive practices    Environment Ministry, Haretna Foundation sign protocol for sustainable development    After 200 days of war, our resolve stands unyielding, akin to might of mountains: Abu Ubaida    World Bank pauses $150m funding for Tanzanian tourism project    China's '40 coal cutback falls short, threatens climate    Swiss freeze on Russian assets dwindles to $6.36b in '23    Amir Karara reflects on 'Beit Al-Rifai' success, aspires for future collaborations    Ministers of Health, Education launch 'Partnership for Healthy Cities' initiative in schools    Egyptian President and Spanish PM discuss Middle East tensions, bilateral relations in phone call    Amstone Egypt unveils groundbreaking "Hydra B5" Patrol Boat, bolstering domestic defence production    Climate change risks 70% of global workforce – ILO    Health Ministry, EADP establish cooperation protocol for African initiatives    Prime Minister Madbouly reviews cooperation with South Sudan    Ramses II statue head returns to Egypt after repatriation from Switzerland    Egypt retains top spot in CFA's MENA Research Challenge    Egyptian public, private sectors off on Apr 25 marking Sinai Liberation    EU pledges €3.5b for oceans, environment    Egypt forms supreme committee to revive historic Ahl Al-Bayt Trail    Debt swaps could unlock $100b for climate action    Acts of goodness: Transforming companies, people, communities    President Al-Sisi embarks on new term with pledge for prosperity, democratic evolution    Amal Al Ghad Magazine congratulates President Sisi on new office term    Egypt starts construction of groundwater drinking water stations in South Sudan    Egyptian, Japanese Judo communities celebrate new coach at Tokyo's Embassy in Cairo    Uppingham Cairo and Rafa Nadal Academy Unite to Elevate Sports Education in Egypt with the Introduction of the "Rafa Nadal Tennis Program"    Financial literacy becomes extremely important – EGX official    Euro area annual inflation up to 2.9% – Eurostat    BYD، Brazil's Sigma Lithium JV likely    UNESCO celebrates World Arabic Language Day    Motaz Azaiza mural in Manchester tribute to Palestinian journalists    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Al-Ahwani negotiates $ 115m loan with South Korean government
KOICA provided Egypt with a grant worth $ 1m to prepare feasibility studies needed to operate an integrated technological educational complex
Menna Samir Published in Daily News Egypt on 28 - 07 - 2015

Egypt's Minister of International Cooperation Nagla Al-Ahwani is currently holding talks with the South Korean government to obtain a concessional loan worth $ 115m to develop Egypt's railway sector.
An official statement from the ministry on Monday indicated that Al-Ahwani met with South Korea's ambassador to Egypt Chung Kwang. The statement added that, both parties signed a joint letter during the meeting concerning the implementation of feasibility studies needed to operate an integrated technological educational complex located in the Cairo district of Al-Amiria.
The preparation of the feasibility studies will take place via a grant worth $1m provided by the Korea International Cooperation Agency (KOICA).
South Korea is an important development partner for Egypt, Al-Ahwani said. Egypt has received, in the last decade, much in the way of aid and grants from the Korean government. These have been used for the development of Egyptian nationals' skills, particularly in the electricity, industry and information technology sectors, a ministry statement said.
The Korean government is currently cooperating with the Ministry of Electricity by providing a $2.6m non-refundable grant to complete the second phase of the "development and automation of the electrical distribution system in North Cairo".
The cooperation between KOICA and Egypt dates back to 1991, and includes: dispatching Korean experts to Egypt; providing training courses; and funding feasibility studies for a number of projects. KOICA provides annual aid to Egypt worth approximately $5m, according to the official website of the State Information Services (SIS).

Clic here to read the story from its source.