Al-Ahwani negotiates $ 115m loan with South Korean government

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).