Minister of planning to sign agreement with Japan

Faiza Abul Naga, minister of planning and international cooperation, will sign next week the mutual agreements of the Japanese loan, to finance phase one of underground’s line four. Egypt intends to construct this line with $1.2 billion investments, jointly with Ogata, president of Jica (Japanese international cooperation agency).

The loan’s interest rate reaches 0.2%. The period of withdrawing the loan is 13 years after implementing the mutual agreement. The commission on the deposit sums reaches 0.1%, and the payment period reaches 30 years after 10 years allowance period.

Line four starts from Al Malek El Saleh Station and extends to Oct 6 city, as it also will be linked to line one and line two.