Egypt secures $500mn World Bank loan
Cash to fund the Egypt Household Natural Gas Connection Project
Egypt has secured a $500mn loan from the World Bank to fund a major gas porject, which will help meet the country's spike in domestic demand.
The loan has a maturity period of 28 years and a half, and a grace period of 7 years.
"The objective of the project is to assist the country with increasing household access to reliable, lower cost, grid connected natural gas supply," the World Bank said on their website.