Minister of International Cooperation Fayza Aboul Naga signed a loan agreement with the World Bank worth $30 million to continue execution of the national sewage project, reported Al-Alam Al-Youm newspaper.
The loan is a soft loan to be paid over 28.5 years with a seven-year grace period and an interest of 0.8 percent, according to a Beltone Financial report.
The loan is to continue a project which was inaugurated and funded by a $50 million loan from the World Bank in 2000.
The project extends the sewage system an extra 90,000 feddans to total one million feddans of sewage system, Beltone said.
