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Libya offers Egypt $2bn interest-free loan
- Egypt: Sunday, April 14 - 2013 at 01:07
Egypt is set to sign on Wednesday a $2bn loan agreement with Libya aimed at boosting the national economy and bolstering Egypt's falling foreign-currency reserves, Ahram has reported, citing a source at the Egyptian finance ministry. The loan is expected to be delivered next week, coinciding with a recent Qatari pledge to Egypt for $3bn in financial aid. Egypt is to pay back the interest-free loan over five years with an additional three-year grace period, the source said.
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